Bitcoin Miners Consider Paraguay In Wake of China Ban

As many as eight China-based Bitcoin mining firms are said to be looking to relocate operations to Paraguay in the wake of the country’s crackdown on its domestic industry.

Estimates suggest this migration could take place over years, and that as many as 500,000 machines could eventually be installed in the country, touted for its abundance of renewables.

The figures come from local media reports in Latin America, led by cryptocurrency news source Criptonoticias, but since publicized by larger outlets including Argentina’s largest financial daily, Ámbito Financiero.

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