Bitcoin Miners Relocates to Paraguay in Wake of China By CoinQuora – Up News Info

   2021-07-31 10:07

Bitcoin Miners Relocates to Paraguay in Wake of China
© Reuters. Bitcoin Miners Relocates to Paraguay in Wake of China
  • Eight mining firms in China plan to relocate operations to Paraguay.
  • Over 500k machines can be gradually installed in the country.

Eight China-related Bitcoin mining firms are planning to relocate operations to Paraguay in the wake of China’s crackdown on its domestic industry.

Moreover, estimates suggest that this migration can take place for years. However, over 500k machines can be gradually installed in the country, touted for their renewable abundance. Even more, the figures come from local media reports in Latin America, which is led by digital asset news media Criptonoticias. However, it was publicized by huge outlets including Argentina’s huge financial daily, Ambito Financiero.



Moreover, Quoted hugely is Juanjo Benítez Rickmann. Rickmann is the CEO of the Paraguay-based mining firm Digital Assets S.A. and advisor to a recent bill presented this month seeking to regulate miners in Paraguay and to attract foreign businesses.

In addition, Rickman mentioned that the effort is working so far with one mining operation in the process of installing 90,000 bitcoin mining rigs. Also,…

Continue reading on CoinQuora

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