Paraguay National Power Administration will propose a special cryptocurrency mining fee

08/04 10:51

According to News.bitcoin, the National Power Administration of Paraguay is proposing a new way of charging cryptocurrency companies for the electricity used in mining operations in Paraguay. The company has brought a new decree proposal to the national economic team that would collect the payments for these services in advance in U.S. dollars, and with an annual adjustment. This proposal would also create a new billing group for these activities. The head of the East Regional Management Division, Alfredo Argüello, stated that while inspecting different cryptocurrency mining operations, the group was able to detect irregularities in some of them that led to the loss of more than $400,000 monthly. Some of these irregularities included direct connections, bypass connections, and modified power meters, Argüello informed. As a result of this, the company is stopping the power supply to these companies until a new power billing structure is approved for these entities, an issue that’s already being discussed in the Paraguayan senate.

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