In response to escalating energy losses due to illegal cryptocurrency mining, Paraguay unveils a strategy to stop such activities.
Measures Against Electricity Theft
The National Electricity Administration (ANDE) of Paraguay has announced its master management plan for 2024-2034, aiming to reduce electrical losses from 28% to 15%. This involves $359 million in investments from 2025 to 2028 for infrastructure and technology upgrades to enhance power efficiency and combat theft.
Ongoing Enforcement Efforts
Continuous illegal mining operations necessitate regular enforcement actions. ANDE, with local prosecutors, conducted a raid on November 30 in the Itapúa department, uncovering illegal connections for crypto mining and seizing 163 devices.
Global Trends and Regional Implications
Paraguay's tough stance on illegal mining has increased energy costs and led to frequent raids, pushing some operations to cease or relocate to more mining-friendly areas like Brazil. This reflects global trends as countries face regulatory challenges with the crypto mining industry.
Paraguay's measures against illegal crypto mining reflect a broader global trend towards increasing regulation in the energy sector.
