Sazmining Unveils Green Bitcoin Farm in Paraguay

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American mining company Sazmining has set up a Bitcoin mining facility in Paraguay that is solely powered by renewable energy.

The company offers hosting services and takes a 15% commission from clients’ earnings.

The data center in Paraguay utilizes surplus electricity from the Itaipu hydroelectric station, which has a capacity of 14 GW and is second only to China’s Three Gorges in terms of electricity generation.

This hydroelectric plant, which was built in partnership with Brazil, is considered the most expensive facility in the world, with a construction cost of $27 billion (equivalent to $35.93 billion today).

President of Sazmining, Kent Halliburton, highlighted that Paraguay sells 5 GW of electricity to Brazil at a loss due to its small population and excess electricity generation.

By using this excess energy for Bitcoin mining, Paraguay can now generate profit from the Itaipu plant. Sazmining charges a tariff of $0.047 per kWh, which is significantly lower than what the company would have to pay for in the United States.