Project of superlatives: World's largest mining farm to emerge at Itaipu power plant
According to a press release, the Commons Foundation secured the rights to build a mining farm in Paraguay on November 6. Accordingly, the Paraguayan government will provide a total of five locations, each measuring 10,000 square meters, for the realization of the major project.
The Commons Foundation plans to build the farm near the Itaipu hydroelectric power plant, which is located on the border with Brazil. The power plant is one of the most powerful power plants ever with an annual production of 103.1 terawatt hours (TWh). Therefore, the farm is largely immune to energy bottlenecks.
"Paraguay consumes only ten to twenty percent of the electricity produced in the Itaipu hydroelectric plant itself. More than 80 percent is exported. We will build the largest mining farm in Paraguay and clean energy [aus dem Kraftwerk] use",
says Choi Yong-Kwan, President of the Commons Foundation.
Financing should be in the form of an IEO according to the press release. Investors can therefore in advance by the purchase of security tokens in the financing of "Golden Goose", as the project is called.
About 30 percent of the profits earned from the mining are then to be distributed pro rata to the buyers. According to the report, the Commons Foundation relies on the rather unknown cryptocurrency MicroBitcoin (MBC).
Also planned crypto exchange
In addition to the mining farm, the Foundation also plans to found a crypto exchange. In the press release, one superlative chases the next, because one day the Exchange will be "the largest in the world". Whether the planners can not shut their mouths tight at this point and that the project can actually pass by Binance remains to be seen.
However, Choi Yong-Kwan is confident:
"The Golden Goose Project will create a new world-class ecosystem under which the world's largest cryptocurrency mining farm and the world's largest crypto exchange will run."
Whether the Foundation is ultimately right, is irrelevant. However, it is clear that the project is an important step in the further development of the crypto-ecosystem in South America.
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