Bitcoin

Million

Felix

Read

The post <a href="https://coinpedia.org/news/illegal-bitcoin-mining-farms-in-paraguay-ande-employees-under-investigation/" rel="noopener noreferrer nofollow">Illegal Bitcoin Mining Farms in Paraguay: ANDE Employees Under Investigation</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Bafflingly, it has been established that the employees of Paraguay’s National Power Administration (ANDE) started the outlets of unlawful <a href="https://coinpedia.org/beginners-guide/what-is-cryptocurrency-mining/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin mining</a> farms within the nation. According to local <a href="https://x.com/criptoboi/status/1806053073967821079" target="_blank" rel="noopener noreferrer nofollow">newspapers</a>, seven engineers of the said institution are under investigation for being implicated in running these surreptitious businesses. As we speak, the national prosecutor’s office working hand in hand with ANDE is in the process of investigation.
<h2 class="wp-block-heading" id="h-allegations-against-ande-engineers">Allegations against ANDE engineers</h2>
The accusations have seven engineers of ANDE who are believed to have coordinated extra electrical connections to supply power to Bitcoin mining. It is a fact that has been acknowledged by the president of ANDE, Felix Sosa, in this particular issue that the internal audit unit of the institution is doling out cases on these allegations. Sosa also clarified that employees in ANDE have not been involved in carrying out electrical connections for some time now as this service is done by contractors.
However, the activity that remains a major threat to the organization’s existence to date is the fight against illegal mining.
Since December last year, ANDE has been fighting unlawful Bitcoin mining associations, having shut more than 70 mines that were stealing non-metered power straight from the national grid.&nbsp;
<h2 class="wp-block-heading" id="h-government-s-vision-bitcoin-mining-nbsp">Government’s vision: Bitcoin mining&nbsp;</h2>
The government of Paraguay considers Bitcoin mining as one of the stimulants for industrial development. Bitcoin mining is seen as a way for the government to use the country’s excess energy reserves to help establish a labor-intensive industry. In this way, the existence of Bitcoin suggests its potential as a mechanism for the creation of a similar growth path for the rest of the economy.
It is also yet to be known how Paraguay will be handling these allegations in addition to the challenges that it will be applying in an attempt to reduce corruption issues prevalent in power administrations.
Read Also: <a href="https://coinpedia.org/news/metaplanet-acquires-20-20-more-bitcoins-amid-japans-economic-uncertainty/" target="_blank" rel="noopener noreferrer nofollow">Can BTC Save the Yen? Metaplanet Spends 200 Million for More Bitcoin</a>

Illegal Bitcoin Mining Farms in Paraguay: ANDE Employees Under Investigation

Innehållsförteckning

CoinPedia News

Andra artiklar publicerade 1 juli 2024

XRP/BTC Price Prediction: XRP Price Breakout to $1 Looms As ETF Drums Beat

Coinbase Futures Contracts Expands, Adds Shiba Inu, Avalanche, Others

Santander Brazil Expands Crypto Trading: Empowering Retail Customers via Toro Platform

This Solana Meme Coin Continues to Outperform dogwifhat (WIF) and BONK

Fantom (FTM) Price Sees 8% Increase as Trading Volume Spikes

Unifi Protocol Simplifies Cross-Chain Transactions

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!