CryptoMediaClub
Saturday, September 13, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Paraguay Crypto Miners Urge State Electricity Board To Reconsider Upcoming Price Hike

23.07.2024
A A
0
123
VIEWS
ShareShare
  • Crypto miners in Paraguay are urging the state electricity board to reconsider the upcoming electricity price hike, arguing that it will harm the country’s economy and could result in losses of up to $1.5 billion.
  • Capamad spokesperson Jimmy Kim claims that the electricity price increase set for Aug. 1 may force 70% of legal crypto miners out of business.

On July 19, the Administración Nacional de Electricidad (ANDE) — Paraguay’s national electricity grid operator — announced in a press conference that it would continue its planned electricity price increase for legal crypto miners.

According to ANDE, the price increase will take effect starting on Aug. 1.

Legitimate Crypto Miners Could Go Out Of Business

In a statement sent to Cointelegraph, Jimmy Kim, the spokesperson for the Chamber of Digital Asset Mining (Capamad), expressed disappointment in ANDE’s decision to raise costs for miners. Kim explained:

“We are incredibly disappointed that Paraguay’s state electricity board, ANDE, confirmed that electricity prices will increase by up to 16% for legal cryptocurrency miners in the country from Aug. 1. This follows a 54% fee hike in 2022 when miners started to sign new five-year agreements with ANDE.”

Capamad, an industry body representing legal Paraguayan Bitcoin and altcoin miners, believes that ANDE’s price hikes will make legal crypto mining unsustainable in Paraguay. Kim says up to 70% of legitimate operators could go out of business starting in August.

The miner spokesperson also claims the event would cause thousands of direct and indirect job losses. In addition, Kim said that the event threatens over $1.5 billion in planned technology and infrastructure investments.

Crypto Miners Urge Electric Board To Reconsider Price Hike

On July 19, ANDE announced that its efforts to enact a law to protect the electrical system’s integrity were due to crypto mining operations that interrupted its electricity supply.

The government announced more severe penalties for the illegal theft of electrical energy.

While they understand the need to take action against illegal crypto miners, Capamad urged the government to reconsider the hike for legal crypto miners. Kim said:

“Our members are now facing difficult decisions about how to make ends meet. We call upon ANDE to urgently review the planned increase in order to protect a vital source of revenue for Paraguay’s economy.”

Kim added that over 50 companies operate legitimately and have the potential to contribute to the economy.

The spokesperson claims that mining firms have already invested over $700 million, which Kim believes to be “the largest amount of foreign direct investment (FDI) the country has ever received.”

Share9Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
New ICO Lures Dogecoin Holders With 1,899% Potential Returns

New ICO Lures Dogecoin Holders With 1,899% Potential Returns

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

US markets, Bitcoin poised for rally regardless of elections outcome

US markets, Bitcoin poised for rally regardless of elections outcome

10 months ago
Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions

Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions

2 years ago
Bitcoin consolidates as liquidity flows shift to Ethereum and broader altcoin markets

Bitcoin consolidates as liquidity flows shift to Ethereum and broader altcoin markets

3 weeks ago
Oggy Inu Cartoon Meme Is Causing a Stir in the Crypto Market

Oggy Inu Cartoon Meme Is Causing a Stir in the Crypto Market

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Dogecoin Price Prediction: ETF Launch Could Spark Meme Supercycle – Will DOGE Be the First to Fly?

China’s DeepSeek AI Predicts the Price of XRP, Pi Coin and Solana by the End of 2025

Crypto Price Prediction Today 12 September – XRP, Cardano, Ethereum

Bitcoin Cash Price Prediction: Grayscale Updates ETF Filing – Is BCH the Next Sleeper to Explode?

REX-Osprey Solana ETF crosses $200M milestone as SOL hits seven-month high

Best Crypto to Buy Now 12 September – XRP, Dogecoin, Pepe

Trending

Analysts Debate Which Cryptocurrency to Invest In Before the Next BTC Halving and Eye MUTM’s $0.035 for Key Reasons
All news

Analysts Debate Which Cryptocurrency to Invest In Before the Next BTC Halving and Eye MUTM’s $0.035 for Key Reasons

13.09.2025
0

Every four years, Bitcoin (BTC)’s halving reshapes the crypto market. Each event reduces block rewards, limiting new...

Dogecoin ETF Launch Sparks Investor Rush to DOT Miners

Dogecoin ETF Launch Sparks Investor Rush to DOT Miners

13.09.2025
Inside AI Crypto Trading: Coinbase AgentKit, Lit’s Hustle, Vincent, and x402 Onchain Rails

Inside AI Crypto Trading: Coinbase AgentKit, Lit’s Hustle, Vincent, and x402 Onchain Rails

13.09.2025
Dogecoin Price Prediction: ETF Launch Could Spark Meme Supercycle – Will DOGE Be the First to Fly?

Dogecoin Price Prediction: ETF Launch Could Spark Meme Supercycle – Will DOGE Be the First to Fly?

13.09.2025
China’s DeepSeek AI Predicts the Price of XRP, Pi Coin and Solana by the End of 2025

China’s DeepSeek AI Predicts the Price of XRP, Pi Coin and Solana by the End of 2025

13.09.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz