Power outages in late 2021 caused the Argentine government to track electricity consumption used by Bitcoin mining companies.
State-owned power company Cammesa asked electricity consumers if they “mined cryptocurrencies” in a note. If companies engage in these activities, they will determine the actual power consumption they use. stated that there should be explanations.
Argentine Government Plans to Switch to New Tariff
According to local media reports on the subject, the Argentine government will take action to make miners pay more for this energy. Namely, the authorities plan to launch a new tariff plan for these companies and enable cryptocurrency miners to invest directly in the power system. It is stated that this new decision taken by government officials was taken to prevent power cuts affecting more than 80,000 citizens.
The report also stated that some companies are hosting companies in other regions to run their cryptocurrency mining operations. This has been described as having a negative impact on the network. According to the data obtained, it was stated that there was an increase in the number of enterprises engaged in such activities and this number exceeded 200.
In the statements made, it is said that the reason for the emergence of such covert operations is the profitability that investors can achieve by avoiding taxes.
As it is known, Bitcoin mining companies have started to turn to Argentina for their affordable energy needs. As the biggest example of this; mega mining company Bitfarms can be shown.