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

BlockBeats News, March 4th, Paraguay's national power company ANDE has signed a Memorandum of Understanding with the crypto infrastructure company Morphware to launch the country's first government-led Bitcoin mining pilot project using confiscated Bitcoin mining machines. In the initial phase, around 1500 seized mining machines will be deployed, utilizing local surplus hydropower for compliant mining.

As per the arrangement, ANDE will be responsible for the ownership and supervision of the mining farm, while Morphware will provide technical and operational support. For the mined Bitcoins, the government is discussing selling them for public spending or holding a portion of the assets through financial instruments. (BitcoinMagazine)