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Pow.re Expands Mining Operations to Paraguay

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It is reported that Pow.re, a Canadian encryption mining enterprise, signed a contract for 100 megawatts (MW) of electricity in Paraguay with a five-year fixed…

Pow.re Expands Mining Operations to Paraguay

It is reported that Pow.re, a Canadian encryption mining enterprise, signed a contract for 100 megawatts (MW) of electricity in Paraguay with a five-year fixed rate agreement, but Pow.re did not specify the electricity price. In February, Pow.re, a Canadian encryption mining enterprise, completed a round A financing of US $9.2 million with a valuation of US $150 million. HaruInvest led the investment and Trinito and RFD Capital participated in the investment. In addition, Pow.re also received a strategic financing of US $18 million from Haru Invest.

Encryption mining enterprise Pow.re signed a contract of 100 MW power in Paraguay

Analysis based on this information:


The news report states that Pow.re, a Canadian encryption mining enterprise, has signed a five-year fixed rate agreement for 100 MW of electricity in Paraguay. It is said to be a notable development for the company, which has remained tight-lipped about the electricity price in the agreement. The decision to expand to Paraguay can be attributed to the country’s abundant supply of cheap hydroelectricity, which is a critical resource for cryptocurrency mining.

The previous funding round received by Pow.re in February 2021 added US $9.2 million to their financial resources, valuing the company at US $150 million. HaruInvest, Trinito, and RFD Capital participated in the investment, with Haru Invest also providing strategic financing worth US $18 million to Pow.re. These funds are expected to support the mining enterprise’s expansion plans and strengthen its competitive edge in the market.

Pow.re has capitalized on the growing demand for cryptocurrency mining by offering its services to customers worldwide. The company’s success can be attributed to its focus on clean energy sources and highly efficient mining operations. The company’s adoption of renewable energy sources, including wind and solar power, lessens its environmental footprint and increases its appeal to customers.

Investors seem to have recognized the importance of clean energy in cryptocurrency mining and have contributed to Pow.re’s financial success. HaruInvest’s strategic financing, in particular, would help promote the company’s vision of using renewable energy sources and focussing on sustainable mining operations.

In conclusion, Pow.re’s deal to secure 100 MW of electricity in Paraguay is a significant development that will undoubtedly have a positive impact on its operations. Coupled with their additional funding from investors, the company is well-positioned to expand its mining activities and continue to grow as a leading player in the industry.

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