Commons Foundation signs 100MW crypto mining agreement in Paraguay

The Commons Foundation has reportedly signed a 100-megawatt, 10-year power purchase agreement with the Paraguayan grid operator, which is planned to be used for cryptocurrency mining. The contract between the Paraguayan Electricity Authority (ANDE) and the Commons Foundation is a variable price agreement, which means that market conditions determine the energy price. Last week, the country's Senate passed a bill to regulate the industry. The bill requires miners to be licensed by the authorities.