The Paraguayan state electricity company signs an agreement with Morphware to launch the first government Bitcoin mining program using thousands of seized miners.

The Administración Nacional de Electricidad (ANDE), Paraguay’s state electricity monopoly, has signed a Memorandum of Understanding (MOU) with Morphware to launch a government Bitcoin mining program. The project is based on the repurposing of thousands of miners confiscated from illegal operations and the use of untapped hydroelectric energy.

At the heart of the agreement is a growing stockpile of miners seized by Paraguayan authorities during operations against operators accused of electricity theft or fraudulent registration as other types of businesses to obtain subsidized energy rates. Kenso Trabing, founder and CEO of Morphware, described government warehouses as filled with idle machines. The pilot phase of the program calls for the repurposing of 1,500 of the confiscated miners at ANDE-controlled sites.

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