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- Paraguay’s Sazmining is transforming the Bitcoin mining industry by utilizing surplus electricity from the Itaipu Dam.
- With this expansion, Paraguay is becoming an ideal location for sustainable Bitcoin mining.
- The new facility, expected to be operational in September, will host the mining hardware of 1,600 users at a cost of 4.7 cents per kWh, making it one of the most cost-effective in the industry.
Sazmining, a Paraguayan company, is revolutionizing the Bitcoin mining sector by using excess power from the Itaipu Dam, positioning Paraguay as a prime location for sustainable Bitcoin mining.
Sazmining: Pioneering Cost-Effective Bitcoin Mining
By expanding its operations in Paraguay, Sazmining is breathing new life into the Bitcoin mining industry through the use of renewable energy. The company is leveraging surplus electricity from the Itaipu Dam, one of the world’s largest hydroelectric projects with a capacity of 14 gigawatts and 20 turbines. The facility is expected to be operational by September.
Lower Energy Costs for Bitcoin Mining
According to Sazmining’s recent announcement, the new facility will accommodate the mining hardware of 1,600 users at a cost of 4.7 cents per kWh. This is 30% lower than the average costs in the US, making it one of the most cost-effective facilities in the sector. This strategic move is expected to position Paraguay as an ideal location for sustainable Bitcoin mining.
Transforming Excess Electricity into Profit
Sazmining emphasizes that this expansion provides Paraguay with an opportunity to profit from its surplus electricity. The company’s President and COO, Kent Halliburton, pointed out that Bitcoin mining using excess electricity has turned a previously harmful situation into a profitable one across the country.
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Conclusion
In conclusion, Sazmining’s innovative approach to Bitcoin mining is not only transforming the industry but also positioning Paraguay as a prime location for sustainable and cost-effective Bitcoin mining. By utilizing surplus electricity from the Itaipu Dam, the company is turning a potential waste into a source of profit, setting a precedent for other countries with similar resources.
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