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Paraguay to Launch State-Run Bitcoin Mining Using Seized Equipment
State-owned utility Administración Nacional de Electricidad (ANDE) has signed an agreement with Morphware to put 30,000 confiscated mining machines into operation. The initiative aims to monetize excess electricity from the Itaipu Dam and turn electricity theft into public revenue. In an unprecedented move for public administration in South America, Paraguay is moving toward becoming the first country in the region to operate a state-managed mining infrastructure for Bitcoin. The initiative, led by ANDE, involves repurposing thousands of mining devices seized during crackdowns on illegal crypto mining farms. Through ... (full story)