BTC miners in Argentina are thriving by taking advantage of cheap, subsidized energy.
Countries with low utility rates have been great spots for crypto miners, and the resurgence of capital controls is boosting profits for miners in Argentina. The news was first reported by Bloomberg, later republished in the Buenos Aires Times.
Miners Taking Advantage of Cheap Electricity
Experts like Nicolás Bourbon, a crypto-miner in Argentina, have said this is an opportunity to take advantage of the new policies implemented by the local government.
“Even after Bitcoin’s price correction, the cost of electricity for anyone mining from their house is still a fraction of the total revenue generated. Miners know the subsidies are ridiculous. They simply take advantage of it.” —Said Bourbon.
Compared to Colombia, Chile, and Brazil, Consumer electricity bills are barely 2 – 3% of the average monthly income in Argentina, making it one of the cheapest countries in the continent next to Venezu
Źródło: https://cryptopotato.com/bitcoin-mining-soars-in-argentina-amid-cheap-subsidized-energy/
