Bitfury and Commons Foundation have teamed up to launch a Bitcoin transaction processing center in Paraguay. The Commons Foundation has decided to make a foray into the crypto mining world with its Golden Goose project. It has teamed up with Bitfury who will provide the hardware and expertise needed in order to successfully and cost effectively mine Bitcoin. The pair will be deploying Bitfury’s BlockBox mining unit in Paraguay in order to get the project up and running.
Powerful and Portable Mining Kit
Bitfury is arguably one of the best crypto mining hardware manufacturers, supplying some of the biggest mining farms with hardware. In fact, it’s the Bitfury BlockBox that powers Hut 8’s mining facilities in Canada. Hut 8 is the largest publicly traded crypto mining firm with a hash rate of 784 PH/s and having mined more than 5,600 Bitcoin in total. The BlockBox is essentially a container filled to the brim with powerful crypto mining rigs. This means that it can be picked up and moved whenever is necessary – essentially a mobile crypto mining rig. This gives the BlockBox many advantages over rival products as it can be deployed anywhere in the world with favorable mining conditions with minimal fuss.
Renewable Energy Only
Paraguay has one of the most underutilized supplies of green and renewable energy on the planet. The Itaipu hydroelectric plant is one of the largest operational hydroelectric plants, with only 50% of this huge output being consumed by the grid. The other 50% of power output is going to waste, meaning Bitfury and the Commons Foundation can tap into this clean and low-cost power supply without fear of overburdening the national grid. More than 77% of all power used in the Bitcoin mining process is from green and renewable sources thanks to its low cost, helping to keep the mining process profitable.
Golden Goose Exchange Coming Soon
This Bitcoin mining farm is only phase one of the Commons Foundation’s Golden Goose project. Step two is to launch its own crypto exchange in a bid to bring quick, easy, and low-cost crypto trading to Latin America. Allegedly, Golden Goose will be teaming up with a number of leading crypto exchanges in order to pull off this incredible feat, and it’s slated to launch in the second half of 2019.
Bitfury is one of the biggest players in the Bitcoin mining scene and its BlockBox is one of the most advanced crypto mining units around. The Commons Foundation will have great success in mining with Bitfury, and the duo have estimated an average cost of $3,140 to mine each Bitcoin. 2019 looks set to be a huge year for Latin America and Bitfury, let’s hope the Commons Foundation can pull off these big promises.