Paraguay’s Crypto Mining Crackdown: A Seizure Streak
Paraguay has achieved a significant milestone in its crackdown on illegal crypto mining operations, with the seizure of over 10,000 ASIC miners this year. The National Electricity Administration (ANDE) has conducted more than 70 raids on suspected Bitcoin mining farms, resulting in the confiscation of 450 ASIC rigs in the latest operation.
ANDE’s Raids and Seizures
- ANDE has conducted over 70 raids on suspected Bitcoin mining farms in Paraguay.
- A total of 450 ASIC rigs were seized in the most recent operation.
In Ciudad del Este, the Prosecutor’s Office ordered the seizure of these rigs, which were found unconnected to the local power grid and stored in a warehouse in the Hernandarias district of Alto Paraná.
Rigs Discovered ‘In Storage’ Following Raids
According to ANDE, the warehouse where the ASIC rigs were found functioned as a storage site for equipment used in cryptocurrency mining operations. The Public Prosecutor’s Office suspects that this equipment may have been relocated from another facility in the nearby Santa Mónica area.
Previous Raid Connection
- The case might be linked to a previous failed raid in the same area.
- Miners allegedly emptied an illegal farm of ASIC rigs before an investigation took place.
Hernandarias has emerged as a hub for illicit Bitcoin mining activities, prompting authorities to file 20 criminal cases in the district this year.
The Impact of Mining in Paraguay
Bitcoin mining has become a contentious issue in Paraguay, known for its abundant hydroelectric power resources. While some proponents believe that mining could boost the nation’s economy by utilizing surplus power, others have criticized the new energy rates imposed on miners.
Economic Concerns
- Industrial players argue that the new energy rates could harm Paraguay’s international business reputation.
- They fear the decline of the nation’s BTC mining sector due to these policy changes.
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