Opinion: The Bitcoin mining ban proposed by Paraguayan lawmakers could result in losses of over $200 million annually

ChainCatcher news, according to Cointelegraph, if Paraguayan lawmakers pass the recently proposed bill to ban cryptocurrency mining, the country's economy could lose over $200 million annually. It is reported that recently, Paraguayan lawmakers submitted a bill proposing to impose at least a 180-day ban on activities such as Bitcoin mining.

Jaran Mellerud, co-founder and chief mining strategist of Hashlabs Mining, stated that assuming the country has 500 megawatts of legal mining equipment with an operating cost of $0.05 per kilowatt-hour, banning Bitcoin mining could result in losses of over $200 million for Paraguay each year.