China News Today TheBitTimes.com

Paraguay has shut down more than 70 illegal bitcoin mines in the past five years, according to the country’s national energy supplier. Illegal mines in Paraguay reportedly steal up to $60 million worth of electricity every year — enough to light a city, according to the Administración Nacional de Electricidad (ANDE).  The Economist reports that illegal bitcoin miners contribute to an increasing number of blackouts in the country by overloading power lines unable to cope with increased demand. ANDE has also admitted that seven of its own engineers are under investigation after they were accused of illegal ly installing crypto mines using the energy provider’s own power transformers. The Paraguayan Fintech Chamber lobby group says that thanks to a combination of low taxes, predictable politics, and cheap imports of equipment, Paraguay is a mecca for crypto miners. Most of Paraguay’s share of power from the Itaipu dam is directed to Brazil as it vastly exceeds ...

In a new video titled “If I Had To 10X My Money, I’d Only Hold These 4 Alt coins !” aimed at shedding light on potential bull market leaders, renowned crypto analyst Miles Deutscher dissected the crypto landscape to pinpoint four alt coins that he believes could significantly outperform the market. His insights came in response to a query from his Discord channel about potential 5x to 10x gains during the current bull market. Deutscher believes that success in the crypto markets doesn’t necessarily come from holding a vast array of coins but rather from carefully selecting a few that have strong potential narratives. He articulated this during his presentation, stating, “You don’t need to own 30, 40, 50, 60 alt coins in order to get your desired returns. In fact, if you select the right coins and pick the right narratives, you could potentially succeed in this market with three, four, or five alt coins .” He also provided strategic insigh...