Chinese, Taiwanese Bitcoin Miners Eyeing Paraguay Move

[RSRS]

Chinese bitcoin (BTC) miners are reportedly preparing to flock to Paraguay in their droves – with reports claiming that there could be half a million rigs online in the nation in the next three years if regulators do not block miners’ progress, with some industrial players already setting up shop in the South American nation.
Per Criptonoticias, “at least eight” Chinese “financial entities” had expressed a strong interest in “transferring their mining operations to Paraguay,” according to the Paraguayan mining firm Digital Assets’ CEO Juanjo Benítez Rickmann.

In addition to Mainland Chinese miners, Rickmann claimed that “large consortiums from other regions” are also “interested in” relocating to Paraguay, with “some from Taiwan” particularly keen.

On June 23, Rickmann wrote on Twitter that he had had a “good chat” with Alfredo Shu, the Economic Advisor to the Taiwanese Embassy in Paraguay. He wrote that Shu and he had spoken about the “current situation of Bitcoin mining,” as well as a draft bill that has recently been put before parliament seeking to institutionalize and regulate crypto mining in Paraguay.


Although many international observers claim to have been underwhelmed by the bill, which was co-authored by Digital Assets, some in the Paraguay-based crypto community are cautiously optimistic that its relatively conservative nature might at least give policymakers pause for thought.

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