Paraguay's attractiveness to the mining industry is due to its access to cheap renewable electricity produced by the Itaipu hydroelectric power plant. The cost of electricity in the country is only $0.032 per kWh, which is significantly lower than tariffs in other countries, for example, in the USA, where the price can reach $0.20 per kWh. For bitcoin mining, where electricity is the main expense item, this provides a significant advantage. Low domestic electricity consumption is another reason for excess capacity. With a population of about 7 million and a limited industrial base, domestic demand remains low, allowing for efficient use of excess energy for energy-intensive processes such as mining. HIVE has commissioned a 200 MW data center in the Paraguayan city of Iguazu. This allowed the organization to raise the hashrate to 11.4 Eh/s. At the same time, Tether has allocated over $2 billion to create 15 mining facilities located in Paraguay, Uruguay and El Salvador.
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