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Paraguay: construction of the weltwgrößten Bitcoin mining farm is supported by Bitfury – Coin Hero

Paraguay: construction of the weltwgrößten Bitcoin mining farm is supported by Bitfury

Home News Paraguay: construction of the weltwgrößten Bitcoin mining farm by Bitfury support

Of
Marcus Misiak –
05.02.2019

As we already reported at the end of November, the plan, the government of Paraguay and the Commons Foundation to build the biggest Bitcoin mining farm in the world in Ciudad del Este. The project, called “the Golden Goose Project”, now also receives support from Bitfury, have entered into a partnership with the Commons Foundation.

Already in November zeichntete the government of Paraguay and the Blockchain Technology Foundation, “Commons Foundation”, which has its headquarters in South Korea, serves as an agreement as a basis for the construction of the world’s largest Bitcoin mining farm in Ciudad del Este, Paraguay. The agreement provides that the government of Paraguay provides five plots, a total of 50,000 square meters, for the launch of the project “Golden Goose” in the vicinity of the water power plant Itaipu, the world’s largest clean power plant and a stable electricity price for a period of 15 years, granted.

Paraguay is considered to be a centre for renewable energies, since all of the electricity comes from water power plants. The water power plant Itaipu is the largest in the world. Only 20 percent of the energy consumed by Paraguay itself, the Rest is exported.

Partnership with Bitfury

Against this Background, Bitfury, and the Commons Foundation have signed a partnership to start BTC Mining operations in the framework of the project. The two companies will build a series of mining locations with the help of the mobile data centers BlockBox AC from Bitfury. The mobile BlockBox AC units include the 176 air-cooled Mining Server, which provide a reported Gesamthashhrate 14 PH/s.

Valery Vavilov, CEO of Bitfury, said, what are the objectives of the partnership:

We are striving to increase the security of the Bitcoin Blockchain, both through innovations in our hardware portfolio as well as through the Expansion of our network around the world. Bitfury has driven the global decentralization of the Bitcoin Blockchain to make consistent progress and we look forward to supporting our partners in the introduction of this industry in Paraguay.

Plans of the Commons Foundation to launch a crypto stock exchange in the year 2019

The Commons Foundation also plans, by the end of 2019, a global crypto-currency exchange. The stock exchange is to bring more innovations to Paraguay and to the development of the Blockchain Ecosystem in Latin America. The crypto trading platform will carry out the KYC procedures of its customers through the Crystal Analytics platform from Bitfury.

Featured Image: Mark Agnor | Shutterstock

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