The Blockchain Technology Foundation and the government of Paraguay have have signed a partnership to use the world’s most powerful hydroelectric plant, the country’s Itaipu dam, to develop the world’s largest crypto mining farm.
The Blockchain Technology Foundation hope to utilize its expertise in blockchain technology in collaboration with Paraguay’s low-cost electricity, with the project dubbed the “Golden Goose”. The initiative will take place in Ciudad Del Este, a major border city in the country.
The project has found strong support from the government as the Vice President of Paraguay, Hugo Moreno, stated that the Golden Goose project would be exempted from taxation through constitutional revisions.
Paraguay has guaranteed a 15-year stable electricity at only 20% of the price in South Korea. The government has also set aside a vast swath of land for the mining centers and infrastructure. According to the report the “Golden Goose”
project token holders will be paid 30% of mining center profits and 70% of exchange profits on a daily basis. Participants of the “Golden Goose” project will earn mining profits and be paid in MicroBitcoin (MBC) on a daily basis.”
In order to get the project running, The Blockchain Foundation has announced that in order to fund the world’s potential largest bitcoin mining farm, they will launch an Initial Coin Offering (ICO) within the letter of the laws of Paraguay.