Sazmining, a Bitcoin mining service provider that exclusively uses renewable energy, is expanding its footprint to South America by establishing a new operation in Paraguay. 

This facility is scheduled to begin operations on September 15th, leveraging the country's low electricity costs to offer hosting services at a highly competitive rate of 4.7 cents per kWh, significantly below the U.S. average cost of 16.1 cents per kWh.

In 1971, Brazil and Paraguay collaborated on the Itaipu Dam project, which currently generates 14 gigawatts of electricity. 

As per the agreement, Brazil provided the funding for the project and in exchange, Paraguay received excess electricity that surpassed its domestic requirements. Initially, managing this surplus posed a challenge for Paraguay and resulted in selling the extra power back to Brazil at a financial loss. 

However, the emergence of the Bitcoin mining industry has now provided a solution to this dilemma. It enables Paraguay to not only monetize their excess energy but also host sophisticated Bitcoin mining operations.

Addressing the opportunities for surplus energy, President and COO of Sazmining, Kent Halliburton, stated: 

Embracing this development, Paraguayan politicians and the local power provider, ANDE, are actively participating in electricity-for-Bitcoin transactions. Beyond immediate financial gains, Sazmining has a larger vision focused on creating a sustainable and forward-looking future by investing in electrical infrastructure that will benefit Paraguay for generations to come, extending well beyond the lifespan of any Bitcoin mining activities.

Sazmining, a completely non-custodial service, guarantees that clients' Bitcoin rewards are sent straight from the mining pool to their private wallets. 

They operate on a win-win model, profiting only when the client does, which motivates them to enhance the mining environment for optimal efficiency and the extended lifespan of the miners.

Share this article
The link has been copied!