In Paraguay, a new association of Bitcoin and altcoin miners is sounding the alarm over a significant increase in energy tariffs, which they claim will decimate the industry. The National Electricity Administration's decision to hike electricity costs by 13-16% has sparked outrage among miners, who argue that the move will have devastating consequences for the sector.

The Paraguayan Chamber of Digital Asset Mining warns that the price hike will lead to a significant decline in revenue, job losses, and a loss of confidence in the government. Miners claim that they are being charged up to 50% more for energy than other industries in Paraguay, making it impossible for them to operate sustainably. The chamber represents 12 major mining players, including Muiden, Antilia Sur, and Bitfarms, and estimates that Bitcoin mining generates $1.5 billion annually for the Paraguayan economy.

The National Electricity Administration has labeled some 50 mining firms as "especially intensive consumption sector" and is cracking down on illegal crypto mining. The administration has seized almost 10,000 ASIC rigs from undeclared mining centers in conjunction with the police. However, the mining body argues that the government's actions will harm the industry and undermine legal security necessary for investment.

The miners' association is urging the government to reconsider the energy tariffs, which they claim will have a negative impact on the investment environment in Paraguay. They argue that the sector provides significant benefits to the country and that the government's actions will harm its reputation as a pro-business nation.

In conclusion, the dispute between Paraguayan Bitcoin miners and the National Electricity Administration highlights the challenges faced by the industry in the country. The miners' association is fighting to survive amidst soaring energy tariffs, which they claim will kill off the industry. The outcome of this battle will have significant implications for the future of cryptocurrency mining in Paraguay.