Asuncion, IP Agency.- The President of the Republic, Santiago Peña, stated this Thursday that the increase in the price of the electricity tariff for the crypto mining sector will not discourage the investment that the country has been receiving in this area. “We continue to receive a very important demand for new orders,” he stated.
Asked about the legal crypto miners’ claim against the update of the tariff price for the sector from 9 to 16%, the president stated that the contracts clearly establish that the tariff price can increase if the cost of energy increases.
“We negotiated with Brazil and in that negotiation the price increased for the years 2025, 2026 and 2027 and this obviously has to be reflected in the tariff that is passed on to each of the sectors, and the cryptocurrency mining sector was identified,” said the president.
He noted that while this may reduce the profit margin for some companies, it will not discourage the crypto mining business. In this regard, he indicated that the Government continues to receive a “very important” demand from crypto miners that want to set up in the country.
Peña indicated that although cryptomining companies do not generate much labor, the fact that the available energy in Paraguay can be used in the national territory through this sector is important, “preparing us for the arrival of companies that we do believe will generate dynamism.”
The use of Paraguay’s energy is key, Peña added, to create a technological ecosystem “which is what we are also working on, so that Paraguay becomes a technological center.”
#Electricity #rate #hike #wont #discourage #legal #crypto #mining #Peña
2024-07-23 12:09:45
