Why is the world’s most powerful hydropower plant is an ideal setting for bitcoin mining?

Why is the world’s most powerful hydropower plant is an ideal setting for bitcoin mining?

The Itaipú monolithic dam, shared between Paraguay and Brazil, which runs along the Paraná River to the north of the city is the most powerful hydroelectric plant in the world. Its abundant energy source makes Paraguay an ideal place for the mining of bitcoins. Paraguay owns half of Itaipú’s production, but its few factories and its crumbling national grid can barely absorb all this power and are forced to sell the huge surplus in Brazil – at a much lower price than the market price . Paraguay should deploy the red carpet to the attention of cryptocurrency miners. In 10 years, this would generate enough money to pay Paraguay’s foreign debt. New technologies, such as data centers, computers and before them trains, planes and automobiles, often consume a lot of energy. Over time, all these technologies have become more efficient, which is a natural progression of all technologies: saving energy means lowering costs. More specifically, with regard to energy consumption, many do not understand one of the most fundamental benefits of renewable energy systems. Electricity generation can increase while maintaining a minimal impact on the environment. Rather than focusing on the amount of energy used by Bitcoin, the discussion should focus on who produces it – and the source of its power. Paraguay could provide clean energy data centers to software giants such as Google, Apple and Facebook, and become a regional hub for lithium battery manufacturing. If the country now enjoys Itaipú while its population is still small, it could put Paraguay on the edge of the technological frontier.

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