Over the next few weeks, two major crypto events will take place in Paraguay’s capital Asunción. The Paraguay Blockchain Summit 2025 is scheduled for August 11, 2025, followed by Accelerating Bitcoin, Paraguay’s first Bitcoin-only conference, on September 15 and 16. Both events are expected to draw participants from across the local and global Bitcoin community.
The speaker lineup and session topics suggest that discussions will likely cover the country’s electricity surplus and its potential for Bitcoin mining. While no formal proposals exist, the idea of tying surplus energy to a sustainable economic approach is expected to be a key point of conversation.
The energy-mining link
Paraguay generates almost all of its electricity from renewable hydropower via the Itaipú and Yacyretá dams. Much of this energy remains unused domestically and is sold to Brazil under an existing treaty. According to Itaipú’s 2025 mid-year report, the dam produced 37,270 GWh in just the first half of 2025; almost three times the country’s own needs.
At a Paraguayan Senate hearing in April 2024, Senator Salyn Buzarquis proposed studying the use of Itaipú’s surplus energy for Bitcoin mining, describing the potential for generating millions for the national utility. Meanwhile, industry figures such as Hive Digital’s CEO Aydin Kilic have publicly discussed Paraguay’s clean energy surplus as a strategic mining opportunity.
Arguments in favour
Conference speakers may propose that using part of the surplus for Bitcoin mining could deliver greater long-term returns than fixed-rate electricity exports. They could reference examples such as Bhutan, which mines Bitcoin through a sovereign fund, or El Salvador, where a geothermal-powered facility forms part of a broader national strategy.
Others may argue that Bitcoin could be treated as a strategic reserve asset, offering a hedge against inflation or reliance on foreign currencies. These arguments are likely to be presented in the context of financial sovereignty and reduced dependence on the US dollar. Bitcoin’s value has risen from US$7,200 to US$119,000 since 2020, in contrast to the dollar’s 25% decline in purchasing power.
Possible counterpoints
Other convention participants may raise concerns about the economic impact of mining in terms of employment. Unlike sectors such as agriculture or manufacturing, large-scale mining tends to create few direct jobs. Although infrastructure upgrades might attract investment in transmission or storage, the broader benefits may be more limited.
Questions could also be raised about replacing a reliable export income with an activity that is inherently volatile; Bitcoin’s price swings, along with regulatory uncertainties, may be seen as significant risks.
Legal and financial frameworks
Paraguay’s crypto mining law, introduced in 2022, defines mining as an industrial activity. It requires operators to register with the Ministry of Industry and Commerce and mandates that electricity must be purchased from the state utility ANDE. Recent enforcement actions, including the seizure of unlicensed equipment, show that compliance is being monitored.
Attendees could also mention Paraguay’s current agreement with the International Monetary Fund. The deal, which provides nearly US$285 million in support, emphasises fiscal responsibility and structural reform. Any future state role in mining would likely need to align with these goals.
An ongoing debate
Both Paraguay Blockchain Summit 2025, and Accelerating Bitcoin organisers, describe their events as platforms for learning and open discussion. In that spirit, Bitcoin’s place in Paraguay’s economic future will be examined from various viewpoints. Some may see the energy surplus as a strategic asset; others may stress the importance of financial caution.
The outcomes at these conferences remain uncertain for now. What is certain, however, is that Paraguay’s unique energy position will continue to draw international attention within the Bitcoin ecosystem.
About the author:
Stijn McAdam is an independent analyst focusing on finance, technology, and geopolitics. A former military and law enforcement officer turned entrepreneur and global investor, he writes about markets, sovereignty, and global shifts in power. He is the author of Fit & Free, Crypto from Scratch, and Trade Smart, and regularly shares insights at stijnmcadam.com.
