According to ChainCatcher, the Paraguayan National Electricity Administration (ANDE) recently raised electricity rates, causing Bitcoin mining companies to begin looking for alternatives in neighboring countries such as Argentina and Brazil. An Argentine and Brazilian joint venture recently announced an 8 MW plan to generate 200 MW of electricity by 2026. Fernando Arriola, president of the Paraguayan Fintech Chamber, announced that several companies have signed documents to bring their business to Argentina.