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The Paraguay National Electricity Company plans to use seized mining machines to launch a government-led Bitcoin mining project
The Paraguayan National Electricity Company ANDE has signed a memorandum of understanding with the cryptocurrency infrastructure company Morphware to launch the country's first government-led Bitcoin mining pilot project using Bitcoin mining machines seized by law enforcement.
The first phase will deploy approximately 1,500 confiscated mining machines and utilize local surplus hydroelectric resources for compliant mining. According to the arrangement, ANDE is responsible for the ownership and regulation of the mining site, while Morphware provides technical and operational support. For the mined Bitcoin, the government is discussing selling it for public expenditure or using financial instruments to hedge risks and hold part of the assets.
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