Paraguay has achieved a new milestone in combating illicit crypto mining by matching the number of Bitcoin (BTC) mining rigs confiscated in Venezuela.
According to Criptonoticias, the Paraguayan authorities have confiscated more than 10,000 ASIC miners from illicit operators this year.
Crypto Mining Crackdown: Seizure of 450 ASIC Rigs
The National Electricity Administration (ANDE) has conducted over 70 searches on suspected Bitcoin mining farms in Paraguay.
This implies that Paraguay is currently maintaining pace with the assault in Venezuela, a fellow Latin American nation.
Caracas has implemented a mining ban after a comprehensive crackdown on government misconduct.
On the other hand, Paraguay asserts that its assault is intended to stabilize grids, a significant number of which are at risk of overloading.
According to the media outlet, the Prosecutor’s Office in Ciudad del Este has ordered the seizure of 450 ASIC rigs in the most recent operation.
The rigs were not connected to a local electricity grid. Instead, they seem to have been in safekeeping in a warehouse in the Hernandarias district of Alto Paraná.
Rigs Were ‘In Storage’ Following Previous Raids
The rigs were “in storage.” ANDE stated that the warehouse was a “storage site for equipment and materials used for the operation of cryptocurrency farms” in the wake of previous raids.
The Public Prosecutor’s Office thinks that the equipment may have originated from “another facility” in the adjacent town of Santa Mónica.
The case seems to be associated with a “failed” search in the same region, during which miners allegedly emptied an illegal farm of ASIC rigs before an investigation was conducted.
Hernandarias has become a hub for illicit BTC mining activity. This year, the district has been the subject of 20 criminal cases submitted by the Paraguayan authorities.
In Paraguay, renowned for its abundant hydroelectric electricity, bitcoin mining has become a contentious issue.
According to certain advocates, the Paraguayan economy could significantly benefit from mining. The nation distributes a significant portion of its surplus power to neighboring countries or sells it at a reduced price.
New energy rates for miners have been criticized by a recently established group of industrial actors, who have asserted that the action could potentially “devastate” the sector.
In addition, the group expressed concern that this would likely undermine Paraguay’s reputation within the international business community.
According to the statement, the nation’s BTC mining sector’s demise would result in a $1.5 billion loss and the possible loss of “hundreds” of employment.