Paraguay plans to build world's largest Bitcoin mining farm

posted 5 months ago
The Blockchain Technology Foundation aka the Commons Foundation, is based in South Korea, but is now working with the government of Paraguay to build the world’s largest Bitcoin mining farm and crypto exchange. Paraguay has all of its electricity produced by hydroelectric dams and exports 80% of the power it produces. The Commons Foundation has secured a deal with the government for at least 5 years of competitively priced power — 80% cheaper than any deal the foundation could secure in South Korea.

The government is also providing five plots of land, 50,000 sq/m, for the launch of the “Golden Goose” project, which purportedly comprises the largest Bitcoin exchange and cryptocurrency mining outfit the world has ever seen. Vice president of Paraguay Hugo Velazquez Moreno said “The Paraguay government will actively support the Commons Foundation’s ‘Golden Goose project’ and provide tax breaks through constitutional revisions."
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