Bitcoin mining increases in Argentina

Bitcoin miners in Argentina are taking advantage of the country’s shrinking economy and its debased currency to reap oversized returns, fueled by cheap, government-subsidized energy. Bloomberg reported.

“Even after the Bitcoin price correction, the cost of electricity for anyone mining from home is still a fraction of the total revenue generated,” said Nicolas Bourbon, who has experience mining bitcoins from Buenos Aires. Bloomberg.

Miners are profiting from Argentina’s cheap residential electricity due to heavy government subsidies seeking to score political points with voters.

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