Argentine government inquires about energy-bitcoin mining companies in the middle of power outages-

The Argentine government begins to inquire about the electricity consumption of Bitcoin mining companies after some provinces of the country had power failures in the last days of 2021. Cammesa, the state -owned electricity dealer, has sent a memo to the large electricity consumers to reveal this whether they reduce cryptocurrency. In this case, companies should disclose their actual electricity consumption so that a price increase can be coordinated and they have to invest in the electricity infrastructure.

Argentinian government is targeting Bitcoin mining

The Argentine government tries to determine the exact electricity consumption that Bitcoin miner from the national power grid needs to take measures to improve the country's current strum crisis. Cammesa, the state energy -gross dealer, sent a letter to all registered large consumers and asked you to report the energy consumption of possible mining companies that you may host, including the power consumption of the so -called "server group". The cooling equipment for cooling the miners and other associated equipment.

according to local media reports , the Argentine government-through the State Secretary for Electrical Energy-could plan to take measures to get the miners to pay more for this energy, to introduce a new tariff system and to get cryptocurrency miners directly in the electricity system. This with the objection, the stress that these operations cause to reduce the national network, which in some cases was confronted with power failures, of which more than 80,000 citizens were affected and provoked protests.

Covered mining operation

Local cryptocurrency experts explained Some companies are migrated to offer their place for the host of cryptocurrency mining operations, which has had a negative impact on the network. An unknown source announced that these businesses were widespread and that there are more than 200 farms of this kind in the country, at least half of which are active in Buenos Aires, the Argentine capital.

The reason for the appearance of the hidden operations is said to be profitability that investors can achieve by avoiding taxes. Covered measures can shorten the Return on Investment (ROI) times for mining investors who are reportedly back in six months, compared to ROI times of up to 18 months for other operations.

Bitcoin mining companies have kept an eye on Argentina because of their affordable electricity costs. One of these groups is Bitfarms, which is already building a mega mining complex with a private third will be provided without impairing the national power grid.

What do you think of the new measures that the Argentine government is planning in relation to Bitcoin mining? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game when he entered the cryptosphere in December 2017. He has a computer engineering background, lives in Venezuela and is affected by the cryptocurrency boom at the social level via crypto success and how it helps the non-banks and under-sector.

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