According to Foresight News, Jaran Mellerud, co-founder of cryptocurrency mining company Hashlabs Mining, has recently stated that the proposed ban on Bitcoin mining in Paraguay could result in an annual loss of $200 million for the company. Up until now, Bitcoin mining has made a significant positive contribution to Paraguay's trade balance.
Earlier, on April 4, Paraguayan legislators proposed a draft bill stating that illegal cryptocurrency mining operations were stealing electricity and disrupting the country's power supply. If the bill is passed, the ban will last for 180 days, or until a new law is enacted, and the national grid operator can ensure the provision of sufficient energy.