Bitfury Group and South Korean R&D firm to launch Bitcoin mining centers in Paraguay

The Bitfury Foundation and South Korean R&D group, Commons Foundation, are collaborating to launch Bitcoin mining centers in Paraguay.
Commons Foundation will launch a cryptocurrency exchange in late 2019 to which will conduct KYC/AML using Bitfury’s Crystal analytics platform.

Rajarshi Mitra Independent Analyst

The Bitfury Foundation and South Korean R&D group, Commons Foundation, are collaborating to launch Bitcoin mining centers in Paraguay. This collaboration is part of Commons Foundation’s project named “Golden Goose” which is backed by the Government of Paraguay. The purpose of this project is to create the world’s largest crypto mining center supplying the country with ample cheap and clean electricity.

Valery Vavilov, CEO of Bitfury, said:

“We are committed to increasing the security of the Bitcoin Blockchain, both through innovation in our hardware portfolio and expansion of its network throughout the world. Bitfury has consistently prioritized the global decentralization of the Bitcoin Blockchain and we look forward to helping our partners introduce this industry to Paraguay.”

Commons Foundation will launch a cryptocurrency exchange in late 2019 to “bring further innovation to Paraguay and help build a blockchain ecosystem in Latin America.” This proposed exchange will conduct KYC/AML using Bitfury’s Crystal analytics platform.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.