The popularity of Paraguay as a country with cheap electricity fees suitable for bitcoin mining might play against the stability of the system, according to the National Power Administration ANDE.
on Oct. 28 that the recent boom in bitcoin mining has caused power consumption for the department of Alto Parana to grow immensely, with many operations connecting illegally to the grid.
According to Miguel Angel Baez, technical director of the ANDE organization, this has prompted the group to step up vigilance in the zone, ramping up supervision operations to detect covert connections on the border with Brazil. However, Baez states that when the company detects and disconnects an operation, another two appear. Each one of these covert operations can reportedly use the energy equivalent of what an apartment complex consumes in one day.
This situation is not new to the area. The National Power Administration previously disconnected power to some miners that had committed power-related crimes. In Aug., Alfredo Arguello, head of the East Regional Management Division, that they had detected irregularities, including direct connections, bypass connections, and modified power meters, during supervision visits. The losses as a consequence of these irregularities reached $400,000 monthly.The situation in the sector prompted the National Power Administration to oppose the fee suggested in a proposed cryptocurrency bill, which established the maximum fee to be only 15% higher than what is collected from other equivalent companies.
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