Mining Firm Sazmining Announces Plans to Mine Crypto in Paraguay

Sazmining, a 100% renewable US-based Bitcoin miner hosting provider, will be launching a new facility in Paraguay scheduled to open in September.

The facility takes advantage of the surplus electricity generated by the massive 14 GW Itaipu hydropower plant.

Sazmining is offering hosting for 1,600 mining rigs at a competitive rate of $0.047 per kWh, which is less than 30% of the cost of hosting equipment in the United States.

The company opened its first data center at a hydropower plant in Wisconsin in January. Paraguay is seen by Sazmining as an “ideal place” for green mining.

President of Sazmining, Kent Halliburton, stated that bitcoin mining is turning what was once a loss into a profitable venture for the country, and that this new activity has been welcomed by both Paraguayan politicians and the local electricity supplier ANDE.

Itaipu, a joint project between Paraguay and Brazil that resulted in the construction of one of the world’s largest dams with 20 turbines, has left Paraguay with excess generating capacity. Until now, this surplus electricity was sold to Brazil at a loss to Paraguay. Luxor experts have dubbed Itaipu