Argentina faced a 4-fold increase in cryptocurrency mining costs
The mining of digital assets causes problems to the infrastructure of the concession area to which miners are connected
05.02.2022 - 10:30
270
1 min
0
What’s new? Argentina’s Ministry of Economy’s Energy Secretary has issued resolution 40/2022, which cancels government subsidies for power consumption for miners. As a result of the appearance of a large number of miners who migrated from China, the country’s electricity costs have quadrupled.
What does the resolution say? According to the resolution, miners consume a large amount of energy on a daily and seasonal basis. As a result, cryptocurrency mining creates problems for the infrastructure of the concession area to which they are connected. The authorities believe that miners should pay for the cost of energy at other tariffs other than tariffs for the population.
What had happened before? The Irkutsk region is still struggling with the growing energy consumption of bitcoin mining. The region’s authorities are trying to maintain energy stability, but the law enforcement officers are identifying more and more illegal mining farms, whose owners either do not pay for electricity or pay at tariffs for the population. In Russia and Belarus, the government has proposed to introduce special electricity tariffs for cryptocurrency miners.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 072
BTC
+0.99%
-
Ethereum
$3 293.55
ETH
-1.77%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+22.48%
-
Dogecoin
$0.401316
DOGE
+4.32%
-
Cardano
$0.983206
ADA
+23.56%
-
Stellar XLM
$0.343
XLM
+38.81%
-
Bitcoin Cash
$489.74
BCH
+2.01%
-
Polkadot
$6.41
DOT
+8.98%
-
Litecoin
$90.61
LTC
+2.38%