Paraguay to Leverage Seized ASICs to Mine Bitcoin, ANDE, the state power company, has partnered with MorphwareAI , an artificial intelligence (AI) and mining tech company, to start a pilot program and use part of its seized miners to produce bitcoin. ANDE’s President, Felix Sosa, stated that the bitcoin mined will be sold as a hedge for futures contracts.
Morphware is actually a longstanding project with a native onchain token called $XMW that operates with buy burn mechanics, the company buys the supply with revenue to ensure it’s a deflationary token. Its valued at a meager MC of 4 million, largely driven of their own previous bitcoin mining operation which saw a tonne of speculative price action while the onchain ecosystem for $ETH was hot . this recent development has stirred up huge media coverage and has actually scaled their revenue capability and consequently their future buy backs.
Bitcoin news, coin telegraph, bitcoin magazine all these outlets are covering morphware but no one is connecting the dots regarding $XMW, atleast retail isn’t. I’m confident big sharks are beginning to circle the project and am aware some improvements are coming next week that will level the offering.
https://finance.yahoo.com/news/paraguay-using-outlaw-mining-rigs-170930536.html
