Ciudad Del Este Is The New Hub Of Crypto Mining
Ciudad del Este has home to vital crypto mining farms. This is majorly because the city has relatively low energy prices as compared to other places. Additionally, importation of technological products has been made easier. Previously, the city was known for hosting centers of phony products, but has now embraced innovative technologies.
The Bitcoin Mining City
Over the past couple of years, digital assets have realized a drastic rise in uptake all over the globe. Consequently, new activities have been seen in the monetary structures of several nations, with notable corporates deciding to devote finances in the innovative technologies.
There are a number of nations with vital mining farms. These include countries like the US, Russia, Iceland, Canada and China. However, nations with cold temperatures as well as low-priced electricity charges have an upper hand.
Located in Paraguay, Ciudad del Este may not necessarily have cold temperatures, but its advantage lies in the fact that it has cheaper electricity compared to other cities in the region. According to Laurence Blair, a travelling journalist who moves to several Latin American regions has recently tweeted pictures indicating that a number of mining farms have been installed in the city.
Lower Electricity Charges
Electricity charges in the city are approximately 33% less than the charges in Argentina. This is an indication that the prices are similar to those in Canada. It is also worth noting that apart from the low electricity charges, Paraguay has little restrictions when it comes to the importation of technological appliances like GPUs and ASIC miners which are vital in the mining of cryptocurrencies.
It ought to be noted that a number of miners who were previously operating in Argentina or Brazil are now shifting their operations to Paraguay in search for more efficient places to carry out their mining activities. Other companies are also relocating to Canada, though Paraguay seems to be nearer than Canada.
The low cost of electricity is largely as a result of the presence of Itaipu’s Dam, which is a key power generation plant in the world, generating well over 100 million MW/h, with the excess energy being sold at very low prices.