Bitcoin

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Argentina has become a new hub for Bitcoin mining due to its lower <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">energy costs</a> and favorable tax conditions. This shift is a result of rising <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a> tariffs in Paraguay, causing miners to look for more cost-effective alternatives. The special economic zone of Zapala in Neuquén province offers significant advantages, attracting a joint venture between Brazilian and Argentine companies, according to <a href="https://www.crypto-news-flash.com/argentina-emerges-as-new-hub-for-bitcoin-mining-projects-amid-rising-costs-in-paraguay/" rel="noopener noreferrer nofollow">Crypto-news-flash</a>.
This venture, involving Zapala Mining and Patagonia 360, is set to launch in October. The project will use sustainable energy resources, with Zapala Mining managing data center operations and Patagonia 360 repurposing gases from Vaca Muerta's hydrocarbon extraction.
The initial phase will start with a capacity of 8 MW, aiming to expand to 100 MW by 2025 and 200 MW by 2026. Luis Pomata, CEO of Nano Mining Paraguay, noted the potential to reach 1,000 MW, surpassing a turbine from the Itaipú hydroelectric plant.&nbsp;&nbsp;
An ecological approach underpins the project, utilizing shale gas from Vaca Muerta to generate electricity. This ensures a reliable energy supply and reduces environmental impact by harnessing local resources. Additionally, operating within a free zone allows for significant savings, as import taxes on machines are avoided, unlike in Paraguay where they are 19%.
The move has caused concern in Paraguay, where Bitcoin mining may decline as a local economic activity. In contrast, Argentina's regulatory stability and lower energy costs are attracting more investors, positioning the region as a potential cryptocurrency mining hub.
Zapala's project is set to become a major Bitcoin mining center in Latin America, reflecting strategic adaptation to global energy and regulatory shifts in the crypto market.

Argentina Attracts Bitcoin Miners with Low Energy Costs and Tax Benefits

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Други статии, публикувани на 6.07.2024 г.

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