Senators in Paraguay have put a hold on the planned ban on cryptocurrency mining that was submitted last week. Instead of exporting excess electricity to Brazil and Argentina, officials are now weighing the advantages of selling excess energy to miners from their Itaipu hydroelectric facility.

In a Senate session on April 10, Senator Lilian Samaniego revealed that a public hearing on April 23 will feature a debate on the advantages and disadvantages of Bitcoin mining in the nation.

It happens roughly a week after MPs, alleging illicit cryptocurrency mines have been diverting power and interfering with the nation's electrical supply, unveiled a draft bill on April 4 to at least temporarily outlaw Bitcoin ticker mining for 180 days.

But a few days later, lawmakers in Paraguay adopted a proclamation endorsing both domestic and foreign Senator Salyn Buzarquis thinks that by pushing the Paraguayan Ministry of Industry to look into the financial benefits of selling extra energy to Bitcoin miners instead, four days later on April 8, investment infrastructure will be made In an April 8 letter to Congress, Buzarquis noted 45 licensed cryptocurrency miners are on track to generate $48 million for the National Electricity Administration (ANDE) by 2024 — with that figure expected to reach $125 million by 2025 after miners install more equipment.

ANDE could make a 45% net profit margin by selling extra energy to nearby Bitcoin miners at $40 per megawatt-hour (MWh) given that the cost of producing electricity at Paraguay's Itaipu hydropower plant is approximately $22/MWh.

According to Buzarquis, this amounts to $73 million a year and roughly $17 million in value-added tax for the government. He continued by asserting that ANDE's ability to mine Bitcoin would even prevent the company from going bankrupt.