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Cryptocurrencies

Bitfury, Commons Foundation to launch Bitcoin mining centers in Paraguay

Tuesday 5 February 2019 | 01:45 PM CET

Bitfury Group and Commons Foundation have announced a partnership to launch a network of Bitcoin mining operations in Paraguay.

As part of the partnership, a series of mining centers will be set up in Paraguay, using Bitfury’s BlockBox AC Bitcoin mining devices. The mines will be powered by two hydroelectric power plants: Itaipu and Yacyreta. The collaboration is a part of Commons Foundation’s Golden Goose project, which has the aim to establish the area as a crypto mining center, given the country’s supply of cheap electricity.

Commons Foundation is planning to launch a cryptocurrency exchange in Paraguay later this year, and to integrate Bitfury’s compliance analytics platform Crystal. At the same time, Bitfury that focuses on manufacturing crypto mining infrastructure and mines, is considering an IPO in Amsterdam, London or Hong Kong to be held this year.

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