Canadian crypto miner Pow.re secured a contract for 100 megawatts (MW) of power in Paraguay, one of a handful that have been granted by the country's national utility (ANDE).

The contract comes with a five-year fixed rate agreement, although Pow.re did not specify the price of the electricity.

Securing low-cost power is paramount to bitcoin miners, because it is their largest operating expenditure.

(By Eliza Gkritsi)