The Blockchain Technology Foundation “Commons Foundation” in a partnership with the Paraguay government has signed a contract to build “the world's largest cryptocurrency currency mining center and the global cryptocurrency exchange in Ciudad del Este with the support of the government,” according to the official press release.
It’s stated that the contract includes the construction of five mining centers near 'Itaipu' Hydroelectric Power Plant, which is considered to be the world's largest clean energy plant presenting a 15-year fixed price on electricity.
The Chairman of the Commons Foundation, Choi Yong-Kwan, confirmed that Paraguay is about to build the world's largest mining center using low-cost and abundant clean energy.
According to the press release, the foundation wants to perform pre-sales and IEO (Initial Exchange Offering) under Business Agreement for the establishment of Paraguay Сryptocurrency mining center & Global cryptocurrency Exchange.
The Vice President of Paraguay, Hugo Velázquez Moreno, said that the government would actively support the foundation’s project.
As the whole crypto market declines, crypto mining operators in China started selling mining machines by weight.
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