ANDE requests special rate for Bitcoin mining in Paraguay

Félix Sosa, president of the National Energy Administration (ANDE), assured that the entity presented a project to the National Economic Team (EEN) to create a special rate for Bitcoin miners in the country. The purpose of the proposal is to combat the illegal connections of those who engage in this activity.

The draft submitted by ANDE aims to “create a new consumer group for the incorporation in the tariff specifications, the special intensive consumption”, Sosa told Radio Monumental de Paraguay.

As specified by the manager Paraguayan media, the economic losses generated by clandestine electrical installations were millions in 2021 and 2022. Only in the Alto Paraná region, these would have been 2,800 million guaraníes (approximately USD 409,000) in the month of July of this year.

Regarding the bill recently approved by Congress and which proposes the regulation of cryptocurrencies in the country, Sosa claimed to be dissatisfied with the cap on the electricity rate for these activities, set at 15% above the industrial rate. For this reason, they will request a partial veto of that law.

“(The rate) has to respond to a cost structure so that it is viable for the installation of electricity supply,” he said, while detailing that mining Bitcoin and other cryptocurrencies generates an expense of between 200 and 300 million guaraníes (approximately USD 29,000 to USD 43,000) per month.

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