Biftury To Launch Mining Facilities In Paraguay After Partnering With South Korean Firm

The major Bitcoin mining equipment manufacturer and blockchain tech company Bitfury exposed its plans to launch multiple mining facilities in Paraguay according to their press release that we are looking into in our daily blockchain news.

Bitfury partnered with a South Korean research company Commons Foundation in order to launch several transaction processing sites that will use the BlockBox AC mobile data centers from Bitfury in Paraguay.

This project is a part of a bigger initiative named ‘’Golden Goose’’ which aims to expand the blockchain technology and the use of cryptocurrencies in multiple Spanish-speaking countries.

The mining facilities that will be launched in Paraguay will be about 200,000 square meters big which electricity that will be provided by a 500MW power station. The mining giant claims that the energy that will be used in the mining centers will be renewable since Paraguay has one of the world’s largest hydroelectric energy producers-the power plant Itaipu.

Also, the Commons Foundation announced its plans to open a global crypto exchange in the country later in 2019 and will also issue a Golden Goose token for the participants. The exchange will use Bitfury’s analytics platform that will be in compliance with Know-Your-Customer policies.

The Paraguayan officials also stated that they hope that this new initiative will help the country to welcome more investors and build a strong blockchain ecosystem in all of Latin America.

Bitfury has previously partnered with the Russian Plekhanov University of Economics in order to develop a blockchain course for all of the interested young specialists. The company also signed a contract with PWC to launch a blockchain accelerator mainly for the businesses in Russia.