The Argentine government intends to determine the amount of electricity used by mining companies in the country in order to take measures to overcome the energy crisis.
As part of this initiative, Cammesa, a government-owned electricity supplier, has sent inquiries to major electricity consumers asking them to report on mining activities. In the event that a company is mining cryptocurrencies, it must disclose the actual electricity consumption based on the potential capacity of mining farms, cooling and related equipment.
Based on the data received, a new scheme of increased tariffs for miners will be developed. The increase in the cost of electricity for companies engaged in the extraction of cryptocurrencies will allow attracting additional capital for the development of the country’s energy system, balancing electricity consumption and preventing mass outages. Power outages previously affected more than 80,000 citizens, leading to massive popular protests.
According to iProUP, 25 mining companies are officially registered in the country, but their actual number is about 200. At the same time, about 70% is concentrated in the province of Buenos Aires. Argentina is a profitable country for mining due to low electricity tariffs. The cost of MBt / h for industrial use is around 2,800 pesos ($ 27). For comparison, in Paraguay the cost of MBt / h reaches $ 60, and in Canada – $ 111.
Recall that last year, the Argentine authorities demanded from Bitfarms to provide detailed information about the mining center under construction in Cordoba with a capacity of 210 MW. Not only Argentina, but also Kazakhstan and Russia are faced with an energy crisis. The Kazakh authorities went to extreme measures and limited the consumption of electricity for mining companies. As a result, many companies have moved to the United States.
In the Irkutsk region, a regional electricity supplier has filed claims against owners of private mining farms for 73.3 million rubles. He accused individuals mining cryptocurrencies of entrepreneurial activity and illegal use of electricity at a low price intended for the population.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
