Parana Mining Company
100% Hydroelectric Bitcoin Mining
Why Paraguay?
The first question people ask when I tell them about the PMC venture is "Why Paraguay?" The answer is simple, Paraguay has some of the cheapest electricity in the world. In addition, all of of this electricity is completely renewable as it is stranded energy generated by the most powerful hydroelectric dam in the world - Itaipu Binacional on the Parana River. Finally, when compared to other nations with cheap electricity, Paraguay is by far the safest and most politically stable. We'll see where, when, and if this venture flies, but my role in it would be as a technical advisor. It has been a fascinating experience, which has allowed me to delve into cryptography, finance and bitcoin mining, all of which have broadened my horizon in physics, not to mention visiting the fabulous hospitable nation of Paraguay.
My Path to Bitcoin and Decentralized Finance
​I was first introduced to bitcoin in 2013 when my friend in high school told me about it and the legendary "bitcoin pizza" purchase. I was immediately intrigued by the concept of a decentralized peer-to-peer monetary technology secured by proof of work. Like many individuals, the lack of exchanges and potential illegal uses of this technology were suspicious to me, so I buried the idea. However, as time passed, and with the advent of reliable exchanges and investment in blockchain technology and bitcoin mining, my interest was renewed. As my technical capabilities improved I was able to gain a greater understanding of the technology, hardware and mining process. I learned to run my own node, transact on the network without exchanges or third-party wallets. and how to run an ASIC miner. I taught myself basic hash-board maintenance, trouble-shooting improving our system by flashing the ASIC OS to overclock a miner thereby attaining better mining rewards. I learned how to store my keys in cold storage secured by multi-signature protocols. When, the opportunity to get involved in mining presented itself, I was ready.