Paraguay's National Power Company Plans to Launch Government-Led Bitcoin Mining Project Using Seized Mining Rigs

Odaily News Paraguay's National Power Company ANDE has signed a Memorandum of Understanding with crypto infrastructure firm Morphware, planning to launch the country's first government-led Bitcoin mining pilot project using mining rigs seized by law enforcement. The initial phase will deploy approximately 1,500 confiscated mining rigs and utilize local surplus hydropower resources for compliant mining operations.

According to the arrangement, ANDE will be responsible for the ownership and supervision of the mining facilities, while Morphware will provide technical and operational support. Regarding the mined Bitcoin, the government is discussing options such as selling it for public expenditure or hedging risks through financial instruments while holding a portion of the assets. (BitcoinMagazine)