Future FinTech’s Paraguayan wholly-owned subsidiary FTFT Paraguay has completed the first construction phase of its cryptocurrency mining farm located in Mariano Roque Alonso, Paraguay, and the farm has been powered on and begun operations. The Paraguayan cryptocurrency mining farm has a capacity of 3 MW and can accommodate approximately 900 mining machines. Paraguay encourages cryptocurrency development due to its unused hydropower capacity which provides opportunity for FTFT to engage in cryptocurrency business activities in Paraguay. The first project phase, expected to be completed in 2023, is for the construction of two medium-sized mining farms of 15MW each to achieve a total of at least 30MW of processing power. The second project phase, expected to be completed in 2024 and 2025, is targeting 100MW of processing power.
Published first on TheFly
