Bitcoin Miners Relocates to Paraguay in Wake of China By CoinQuora – Investing.com

Bitcoin Miners Relocates to Paraguay in Wake of China By CoinQuora – Investing.com

Eight China-related Bitcoin mining firms are planning to relocate operations to Paraguay in the wake of China’s crackdown on its domestic industry.

Moreover, estimates suggest that this migration can take place for years. However, over 500k machines can be gradually installed in the country, touted for their renewable abundance. Even more, the figures come from local media reports in Latin America, which is led by digital asset news media Criptonoticias. However, it was publicized by huge outlets including Argentina’s huge financial daily, Ambito Financiero.

Moreover, Quoted hugely is Juanjo Benítez Rickmann. Rickmann is the CEO of the Paraguay-based mining firm Digital Assets S.A. and advisor to a recent bill presented this month seeking to regulate miners in Paraguay and to attract foreign businesses.