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Pow.re Secures Long-term Fixed-rate Electricity Contract in 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 Secures Long-term Fixed-rate Electricity Contract in 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:


Pow.re, a Canadian encryption mining enterprise, has entered into a five-year fixed-rate electricity contract for 100 megawatts (MW) in Paraguay. While the company did not disclose the agreed-upon price, this move suggests that Pow.re believes it has found a reliable and cost-effective source of electricity to support its operations.

As a mining company that specializes in securing and verifying transactions on cryptocurrency networks, Pow.re requires significant computing power that consumes a lot of energy. In fact, some estimates suggest that the cryptocurrency industry consumes as much electricity as the entire country of Argentina. This has led many companies in the industry to relocate to areas where electricity is cheaper and more abundant.

Paraguay is an attractive location for cryptocurrency mining because the country generates the majority of its electricity from hydroelectricity. This means that energy costs are significantly lower than in many other countries. In fact, Paraguay’s electricity costs are among the lowest in the world, with an average price of around $0.05 per kilowatt-hour (kWh). By securing a long-term fixed-rate contract, Pow.re can hedge against any future price increases and take advantage of these low costs.

This move is a significant indicator of Pow.re’s growth trajectory. In February 2021, the company raised $9.2 million in a round of financing, with a valuation of $150 million. The investment was led by HaruInvest, with Trinito and RFD Capital also participating. Additionally, Pow.re received a strategic financing of $18 million from Haru Invest. With this funding, Pow.re can invest in more computing power to expand its mining operations and improve transaction speeds for its customers.

In conclusion, Pow.re’s recent electricity contract in Paraguay is a strategic decision that will help the company reduce its energy costs and continue its growth trajectory. This move highlights the importance of finding reliable and cost-effective sources of electricity for companies in the cryptocurrency mining industry. With this contract, Pow.re can increase its computing power and transaction speeds, ultimately benefiting its customers and solidifying its position in the market.

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