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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    Labubus have succeeded in every way that NFTs have failed

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    NFT sales surge to $574 million in July, second-highest in 2025

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    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

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    Blockchain Bookmakers: A New Era of Fair and Secure

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Biggest Games Releasing in August 2025

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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Home Mining

Bitcoin Miner Using Paraguay Itaipu Dam to Power Its New Facility

October 19, 2023
in Mining
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Bitcoin Miner Using Paraguay Itaipu Dam to Power Its New Facility
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Bitcoin mining company Sazmining has opened its newest 100% renewable energy facility in Paraguay.

READ ALSO

A Remarkable Achievement in Bitcoin Mining

French MPs Float Plan to Mine Bitcoin With Surplus Nuclear Energy

The company operates customer-owned Bitcoin mining rigs on their behalf, taking a 15% commission for the service. Its new facility will get power from Itaipu Dam, the country’s largest hydroelectric dam. Located on the border of Paraguay and Brazil, the structure has earned itself the Guiness World Record for most expensive object on earth, costing a whopping $27 billion to build in 1984—or $35 billion if you adjust for inflation.

Sazmining President Kent Halliburton told Decrypt that due to Paraguay’s unique hydropower generating dynamics, it was selling 5 Gigawatts of power at a loss to its neighbor, Brazil. That’s why local authorities and communities embrace the company’s presence, he said.

Tapping into Itaipu Dam and buying their surplus power instead of Paraguay exporting at a loss, “turns a headwind for Paraguay’s GDP into a tailwind,” said Halliburton.

Bitcoin mining is an integral piece to the network, but has a somewhat controversial relationship to energy markets. Specialized computers known as ASICs tap into different power generating sources and run the Bitcoin software in order to secure the protocol, earning BTC in return.

The above means that the cost of energy is an important consideration for Bitcoin mining companies. As per Sazmining, mining costs in their new facility will be $0.047 per-kilowatt hour in the new facility–a substantial difference between the world’s leading Bitcoin mining country, the United States.

See also  Bitcoin options signal 20% probability of surge to $80K post-elections

For the sake of comparison, the latest energy price report from the U.S. Bureau of Labor Statistics found that energy costs sit at $0.17 per-kilowatt hour—although that can vary widely depending on location and across industries.

Halliburton said Sazmining is able to get all of its power from the dam, meaning the new facility runs on 100% renewable energy.

Texas is often highlighted as one of Bitcoin’s strongest mining sectors, with sophisticated programs to help the grid in times of stress, but also make use of their excess power. For Halliburton, Paraguay is poised to become “the new Texas”—but he admits the grid there is still much less developed than the lone star state.

This offers an upside with a caveat, he told Decrypt. By agreeing to 95% power uptime instead of 100%, he said, the company was able to take advantage of lower rates. That said, Halliburton is confident the grid will continue to develop and import some of the programs currently present in Texas. For instance, miners in Texas are given energy credits in exchange for turning their rigs off during times of high demand.

Paraguay is a proverbial bit in the overall mining bucket, however. As of September 2021, the Cambridge Center for Alternative Finance (CCAF), placed Paraguay’s hash rate production at 0.15% of the entire Bitcoin mining network.

The Center has updated its index earlier this year, but did not immediately respond to a request from Decrypt about its map data.

Sazmining’s President likes this number, however.

“I see it as an opportunity for those of us that understand the dynamics in Paraguay,” he said, adding that they are positioning themselves ahead of the “seemingly inevitable rush of Bitcoin miners.”

See also  3rd Largest Bitcoin Miner on Wall Street Boosts BTC Production by 45%

Edited by Stacy Elliott.

Tags: BitcoinDamFacilityItaipuminerParaguayPower

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