2023-07-29 12:03:47
Sazmining, a bitcoin mining service provider committed to 100% renewable energy, has targeted South America, including Paraguay, for the creation of a new facility. The mining farm is scheduled to begin operations on September 15 and will take advantage of Paraguay’s low electricity prices. It offers bitcoin mining at a competitive electricity rate of 4.7 cents/kWh – far below the US average cost of 16.1 cents/kWh. “By harnessing excess electricity, bitcoin mining has ingeniously transformed Paraguay’s previous losses into a profitable activity for the entire country.” – said Kent Halliburton, president and COO of Sazmining. “Embracing this development, Paraguayan politicians and the local electricity provider ANDE are actively involved 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, well beyond the lifetime of bitcoin mining operations.” Bitcoin mining utilizes sustainable surplus energy Since Sazmining operates as a completely deposit-free service, it ensures that customers’ bitcoin mining rewards go directly from the mining pool to their private crypto wallet. Operating on a mutually beneficial model, Sazmining only mines when the customer does, encouraging them to optimize their mining environment for maximum efficiency and longevity of their mining rigs. The facility provides customers with the signature white-glove, on-site maintenance, customer service experience and a dedicated security team to ensure the highest levels of safety and performance. In 1971, Brazil and Paraguay joined forces to build the Itaipu Dam, which generates 14 gigawatts of electricity. According to the agreement, Brazil financed the project, in return Paraguay received surplus electricity exceeding its domestic needs. Initially faced with the challenge of managing this surplus, Paraguay began selling excess electricity to Brazil, albeit at a financial loss. However, the emergence of bitcoin mining has been the perfect solution to this situation, allowing Paraguay to not only benefit from excess energy, but also host advanced bitcoin mining facilities.
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