The Argentine government increases the energy costs for cryptocurrency miners almost four times-mining Bitcoin messages

The Argentine Energy Minister has abolished the electricity subsidies for cryptocurrency school and increased energy costs to almost four times what the mining previously paid. The measure concerns customers of the electricity wholesale market in the province of Tierra del Fuego, one of the provinces of the country that are most inhabited by mining workers due to their specific climatic properties.

Argentina strokes subsidies for cryptocurrency mining

The Argentine government has abolished the subsidies for the electricity used by cryptocurrency offices. This is the decision that the country of the country has made in relation to the screaming of cryptocurrencies, and in accordance with the new 40/2022 resolution published and officially made on February 1st, miners now pay almost four times what they paid before.

The new energy price for Miner in Ushuaia and Rio Grande will be 5,000 ARS (or $ 47.50) per MW/H. Before the publication of this resolution, the same miner paid about 1,764 ARS (or $ 16.76) per mw/h. The reason for the change is explained in the resolution that explains:

Due to the availability of payments and the profitability of the activity, it is considered favorable that these users have to pay the energy price that corresponds to the supply costs, since it is unjust that they pay the price of a private user or another.

The resolution affects Miner in the province of Tierra del Fuego, where most miners are in Argentina, since the cold climate enables mining establishments without intensive cooling options.

Cammesa faces a challenge

Cammesa, the energy-gross trade company of Argentina, faces the challenge of finding out which sources use the supplied energy for cryptocurrency mining purposes. While In the past year, the company succeeded in two, two To identify cryptocurrency mining systems in the zone. About this finding a source of the matter that is familiar with the matter told local newspaper La Nacion:

The surveillance takes place at the national level. These are the first to recognize with relevant strength. Those who use a home connection are much smaller and very difficult to identify.

Although there is no official data on this topic, local energy companies seem to agree on one thing: More and more people and companies exaggerate cryptocurrencies due to the low energy costs, which are subsidized by the state.

What do you think about the increase in energy costs for cryptocurrency prickers in Argentina? Tell us in the comment area below.

Sergio Göschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price increase took place in December 2017. He has a background as a computer engineer, lives in Venezuela and is affected by the cryptocurrency boom on a social level. It offers a different perspective on the crypto success and how it helps those who have no bank account and are under-supplied.

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