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According to crypto mining company Pow.re Holdings Limited, the firm announced that it has begun the construction of two new mining facilities in Asunción, Paraguay. The new data centers will handle 12 megawatts (MW) of hydropower, and the firm has also acquired 3,600 Microbt Whatsminer mining rigs that produce approximately 396 petahash per second (PH/s) hashrate.
On October 13, Pow.re revealed that the company has started the construction of two new bitcoin mining facilities in Paraguay. The first site is expected to be fully operational by the end of 2022’s fourth quarter and the second should be ready by Q1 2023. The company says the expansion will add much more hash power to the firm’s operations and it hopes to achieve 0.5 exahash per second (EH/s) by the 2nd quarter of 2023.
More recently, Pow.re was in the news after it was revealed that Quebec’s Mohawk Council of Kahnawake was seeking power for crypto mining opportunities. The report noted that Pow.re worked with members of the Kahnawake council. Regarding the latest expansion in Paraguay, Pow.re’s co-founder and COO SJ Oh explained that the project stems from “two years of due diligence” that came to fruition.
“Proof-of-work protocols have the capacity to serve as synthetic batteries for stranded renewable energy sources, and we look forward to contributing to the spread of renewable energy,” Pow.re’s co-founder added during the announcement.
In addition to starting the construction of the two mining centers in Paraguay’s Asunción region, the company has acquired 3,600 Microbt Whatsminer mining rigs. Delivery of the Microbt units is scheduled to arrive in Asunción at the end of October. The machine will produce approximately 396 PH/s for Pow.re, and company co-founder Ian Descôteaux says Whatsminer models are known for reliability.
“Microbt units have been the workhorse of our operations for the past two years and have proven their outstanding performance and reliability,” Descôteaux said Thursday. “These new units, purchased in line with our counter-cyclical asset acquisition strategy, keep our acquisition costs below the market average and should enable us to provide industry-leading ROIC to our investors.”
What do you think about Pow.re starting the construction of two mining centers in Paraguay? Let us know what you think about this topic in the comments section below.
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