Cryptocurrency miner manufacturer Bitfury has teamed up with South Korean firm Commons Foundation to set up a network of crypto mining facilities in Paraguay. In a statement, Bitfury said the partnership will bring about the development of \u201ca series of transaction processing sites in Paraguay.\u201d The sites, which will be equipped with Bitfury\u2019s BlockBox AC mobile datacenters, will be powered by clean energy from the Itaip\u00fa hydroelectric power plant. The team-up is part of Seoul-based Commons Foundation\u2019s initiative called Golden Goose, whose goal is \u201cto expand cryptocurrency and blockchain innovation in Spanish-speaking countries.\u201d \u201cWe are committed to increasing the security of the Bitcoin blockchain, both through innovation in our hardware portfolio and expansion of its network throughout the world,\u201d said Bitfury CEO Valery Vavilov, noting that the company \u201chas consistently prioritized the global decentralization of the Bitcoin blockchain.\u201d https:\/\/twitter.com\/BitfuryGroup\/status\/1090891750250635264 Sandra Otaz\u00fa Vera, a senior staff attorney in Paraguay and advisor to Commons Foundation, expects the partnership between the two groups to \u201cbring much-needed\u201d innovation to Paraguay, which she says, \u201cis exploring creative ways to use emerging technologies, like blockchain and cryptocurrencies, to benefit their economy and their citizens.\u201d Aside from the crypto mining facilities, Commons Foundation is also planning to launch a crypto exchange in late 2019. The exchange will use Bitfury\u2019s Crystal analytics platform to conduct Know-Your-Customer (KYC) and anti-money laundering (AML) procedures. Launched in 2011, Bitfury is considered to be the largest non-Chinese-owned crypto company, developing crypto blockchain software and providing infrastructure for crypto mining. The company also developed products like a digital ledger for crypto transactions, chips for mining machines and software for institutions, governments, and companies. In November, it received a private placement of $80 million from investors including Naver-backed Korean investment firm Korelya Capital. The private placement comes on the heels of reports that the European company has been looking at different strategic options to raise funds. These include possibly holding an initial public offering (IPO) this year or raising debt financing as well as selling a minority stake in the company.