Paraguay's Power Deals With Bitcoin Miners Set to End as AI Demand Grows

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Paraguay's state utility has supplied electricity to bitcoin miners, which make up about 4% of the global mining sector, under contracts priced at $44 per megawatt-hour. Those agreements, which bring in roughly $350 million a year, are scheduled to expire on December 31, 2027, and the utility has described that date as final. The utility has now signed a 15-year power agreement with an AI data campus backed by Founders Fund. The shift reflects how AI computing demand is competing with crypto mining for access to the country's electricity supply.

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