Paraguay’s Seized Bitcoin Miners Are About to Make a Splash!

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Well now, ANDE, Paraguay’s own state power company, has teamed up with Morphware-a fancy-pants AI and mining outfit-to see if they can wring some bitcoin out of a pile of miners that were, how shall I put it, confiscated for being up to no good. Felix Sosa, the head honcho at ANDE, assures us that the bitcoin will be sold as a hedge for futures contracts, which sounds like a way to make sure nobody ends up crying over spilled digital coins.

Paraguay Gets Ready to Turn Seized Gadgets Into Bitcoin Gold

Paraguay, not wanting to miss out on the modern-day gold rush, is hopping onto the bitcoin bandwagon, right alongside countries like El Salvador and Bhutan, who apparently like digital coins almost as much as rivers and mountains.

ANDE, the state-owned electricity overlord, is shaking hands with Morphware, a company that mixes artificial intelligence with cryptocurrency wizardry, to launch a bitcoin mining operation using machines they confiscated from energy bandits. Imagine turning the naughty boys’ toys into state-approved treasure machines!

Morphware, already cozying up to Paraguay’s hydroelectric juice from the Itaupu dam, says that a new memorandum of understanding lets them “explore Bitcoin mining as a national-level opportunity within Paraguay’s broader energy and digital infrastructure landscape.” Which, in plain speak, means: “We’re gonna make coins with water power, and you’re gonna like it.”

Kenso Trabing, Morphware’s big boss, chimed in:

“By plunking Bitcoin miners on utility-controlled sites, we can turn wasted electricity into productive computing that helps the Bitcoin network and the global AI economy. Fancy, huh?”

Felix Sosa confirmed that ANDE is moving ahead and clarified that the mined bitcoin won’t sit around gathering digital dust-it’ll be sold at a fixed price before production, which is a polite way of saying, “we don’t gamble with state money.”

Sosa added that these bitcoins will be treated like another form of electricity sales, using the mined BTC as a hedge to dodge the usual rollercoaster of crypto prices. Nothing like a little foresight to keep the accountants happy!

This move marks a curious pivot from Paraguay, a country that in the past gave mining companies a rough ride. Back in 2024, President Santiago Pena jacked up power fees for bitcoin miners, causing nine of them to pack up and consider greener pastures in Brazil and El Salvador.

Today, Paraguay proudly sits as the fourth largest host of bitcoin hashrate in the world, wielding close to 4%, right behind the U.S., Russia, and China. Not too shabby for a country that used to chase miners away!

FAQ

  • What new initiative is Paraguay undertaking regarding bitcoin mining?
    They’re partnering with Morphware to start a bitcoin mining operation using miners confiscated from energy thieves. Yes, turning naughty behavior into national profit.

  • What role will the Itaupu dam play?
    Morphware plans to harness the hydroelectric energy from the Itaupu dam to power the mining rigs. Water + electricity = coins. Simple math, really.

  • How will ANDE treat the mined bitcoin?
    President Sosa confirmed that the mined bitcoin will be sold at a fixed price before production, as if they’re just another flavor of electricity sales.

  • What recent changes affected Paraguay’s bitcoin scene?
    After a 2024 power fee hike sent miners packing, Paraguay has now rebounded to become the fourth largest bitcoin hashrate host in the world. They’ve gone from “get out” to “come on in” real quick!

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2026-03-06 12:57