Bitcoin Miner Begins Construction of Mining Facility in Paraguay, Acquires 3,600 Microbt ASIC – Bitcoin News

According to crypto mining operation Holdings Limited, the firm announced that it has begun construction of two new mining facilities in Asuncion, Paraguay. The new data centers will manage 12 megawatts (MW) of hydropower, and the company has also acquired 3,600 Microbt Whatsminer mining rigs that produce approximately 396 petahash per second (PH/s) of hashrate. Holdings Limited begins construction of mining facilities in Paraguay

On Oct. 13, revealed that the company has begun construction of two new bitcoin mining facilities in Paraguay. The first site is expected to be fully operational by the end of Q4 2022 and the second should be ready by Q1 2023. The company says the expansion will add much more hashing power to the company’s operations and hopes to achieve 0.5 exahash per second (EH/s) for the second quarter of 2023.

Bitcoin Miner begins construction of mining facility in Paraguay and acquires 3,600 microbt ASICs
Asuncion, Paraguay.

Recently, was in the news after it was revealed that Quebec’s Kahnawake Mohawk Council was seeking power for crypto mining opportunities. The report noted that was working with members of the Kahnawake council. In regards to the latest expansion in Paraguay, co-founder and COO SJ Oh explained that the project stems from “two years of due diligence” to come to fruition.

“Proof-of-work protocols have the ability to serve as synthetic batteries for stranded renewable energy sources, and we hope to contribute to the proliferation of renewable energy generation,” the co-founder added during the announcement.

Company Gets 396 PH/s Worth From Microbt’s Whatsminer Mining Rigs

In addition to starting the construction of the two mining centers in the Asunción region of Paraguay, the company acquired 3,600 Microbt Whatsminer mining platforms. The delivery of the Microbt devices is scheduled to arrive in Asunción at the end of October. The machine will produce approximately 396 PH/s for and company co-founder Ian Descoteaux says that Whatsminer models are known for their reliability.

“Microbt units have been the workhorse of our operations for the last two years and have proven their excellent performance and reliability,” Descôteaux commented Thursday. “These new units, purchased in accordance with our countercyclical asset acquisition strategy, keep our acquisition cost below market averages and should enable us to provide industry-leading ROIC to our investors.”

Tags in this story

2 facilities, 396 PH/s, Asunción, bitcoin miner, Bitcoin mining, bitcoin mining company, BTC data centers Paraguay, BTC Mining, Council of Kahnawake, Data Centers, Ian Descôteaux, Microbt, mining, Mining Operations, mining rigs, Paraguay,, co-founders, co-founder SJ Oh, SJ Oh, Whatsminers

What do you think about starting the construction of two mining centers in Paraguay? Let us know what you think about this topic in the comments section below.

jamie redman

Jamie Redman is the news lead at News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the disruptive protocols emerging today.

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