The Bitfury Group has teamed up with South Korean R&D group, Commons Foundation to launch Bitcoin mining centers in Paraguay, South America.
This step is part of Commons Foundation’s project named “Golden Goose” backed by the Government of Paraguay. The project is aimed for creation the world’s largest crypto mining center with ample cheap and clean electricity for supplying the country.
Currently, Paraguay utilizes only half of the electricity produced by the two plants and is exploring “creative ways to use emerging technologies, like blockchain and cryptocurrencies, to benefit their economy and their citizens.”
Commons Foundation is also planning to launch a cryptocurrency exchange in Paraguay later this year. The platform will integrate Bitfury’s compliance analytics platform Crystal, according to the announcement.
Bitfury, which specializes in manufacturing crypto mining infrastructure, is reportedly considering an IPO in London, Amsterdam, or Hong Kong, possibly to be held early this year.
