According to Odaily, Paraguay is set to sell its surplus hydroelectric power to Bitcoin miners as part of a new economic development strategy. The Itaipu hydroelectric plant in Paraguay, one of the largest in the world, is reportedly only utilizing 20% of its power generation capacity.
This move is seen as a strategic step by the Paraguayan government to boost its economy by capitalizing on the excess power produced by the Itaipu plant. The decision to sell the surplus power to Bitcoin miners could potentially attract more cryptocurrency mining operations to the country, thereby stimulating economic growth.
However, it remains to be seen how this strategy will impact the country's energy sector and overall economy in the long run. As the world of cryptocurrency continues to evolve, countries like Paraguay are exploring innovative ways to leverage this digital asset class for economic development.