COINDESK · 2026-11-13 23:30 UTC

Bitcoin miners pay Paraguay $350 million a year, but AI is pushing them out

Paraguay's state utility ANDE plans to let all special crypto mining contracts expire on Dec. 31, 2027, citing rising domestic demand and competition from AI. Miners paid ANDE about $44 per megawatt-hour, with ANDE projecting $350 million in crypto mining revenue for 2026, up from $295 million in 2025. HIVE Digital Technologies says its Paraguay agreements expire in 2027 and that continued operation depends on renegotiating them; it declined to discuss talks with ANDE.

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