• November 24, 2020

Bitfury to Open Bitcoin Mining Centre in Paraguay

Bitfury to Open Bitcoin Mining Centre in Paraguay

Bitfury is planning to Open Bitcoin Mining Centre by a partnering with Commons Foundation in Paraguay.

As per the Press release report, Bitfury announced their partnership with a Korean R&D company Commons Foundation. And together they would launch the Bitcoin Mining Centre in Paraguay.

In this Mining centre, they will use Bitfury’s BlockBox AC mobile devices and These devices will be powered through clean energy by the hydroelectric power plant Itaipú and Yacyreta.

Currently, only 50 per cent of the energy produced by the hydroelectric power plants are being used in Paraguay. And so Bitfury wants to take benefits of the rest of power produced and use it for Bitcoin Mining.

Valery Vavilov, CEO of Bitfury said They are committed to increasing the security of the Bitcoin Blockchain, By innovation through hardware portfolio and also spreading its network across the world.

Vavilov also adds that,

“Bitfury has consistently prioritized the global decentralization of the Bitcoin Blockchain and we look forward to helping our partners introduce this industry to Paraguay.”

Eun Lee, Head of Bitfury Korea said, this partnership brings the best expertise and have the same vision to provide the best cryptocurrency solutions inParaguay.

Commons Foundation’s advisor and senior staff attorney in Paraguay Sandra Otazú, said Paraguay is looking forward for innovative ways to use blockchain and cryptocurrency technologies, to benefit their citizens and economy. Thus this partnership will bring infrastructure and enables them to use these technologies.

Commons Foundation also has plans to open a global cryptocurrency exchange by the end of 2019. This exchange will use the technology of Bitfury’s platform to conduct KYC/AML for its customers.

Do you live in Paraguay? Share your thoughts on this bitcoin mining operation in the comments below. 

Finance

Read Previous

Facebook rumors to acquire crypto startup – Chainspace

Read Next

US State Wyoming To Accept Cryptocurrency as Money

Leave a Reply

Your email address will not be published. Required fields are marked *