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Could Paraguay’s Bitcoin mining foray prove detrimental to its energy needs
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ambcrypto.comApart from starting a revolution to decentralize monetary institutions, Bitcoin is also infamous for another thing. It is often touted as a ‘dirty’ investment due to its propensity for high electrical consumption. Earlier in May, the erstwhile cryptocurrency mining capitals in China were completely shut down by the government due to environmental concerns. This has had miners scrambling to look for friendlier locations to set up shop, often employing creative means to achieve their ESG goals.
So far, more prominent players like the USA and Russia have ruled the roost. But several smaller and unlikely crypto mining hubs have also sprouted up around the globe, including the South American nation of Paraguay. Recent reports have indicated that
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