Bitcoin miners pay Paraguay $350 million a year, but AI is pushing them out
Summary
Paraguay currently earns hundreds of millions annually from cryptocurrency mining operations utilizing state-provided electricity. However, the state utility plans to let these energy contracts expire rather than renew them. Instead, the power capacity is being redirected toward a newly signed, long-term artificial intelligence data center project.
Contracts that sell power to a 4% slice of the world’s bitcoin mining at $44 a megawatt-hour expire on Dec. 31, 2027. Paraguay’s state utility calls the date final, and it has just signed a 15-year deal to power a Founders Fund-backed AI campus.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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