Chinese investors eye Paraguay for Bitcoin production

Friday, July 30th 2021 - 07:23 UTC

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Paraguay is to receive large investments to install 500,000 Bitcoin miners, as at least eight Chinese economic groups have expressed their interest in relocating their operations to the South American country thanks to its favorable legislation. Read full article

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Michael F
Hard to see what real long-term economic benefit Paraguay will receive from masses of computing equipment (imported) “mining” for crypto-currency that won't be invested in Paraguay or stay there. Few employees, little construction, modest infrastructure, and they can move out rather easily when they want to. Fools gold economically. And monetarily.
Jul 31st, 2021 - 02:10 pm - Link - Report abuse 0
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