China’s crackdown on mining has led miners to search for other countries in which to continue their operations. Promises of reduced costs led some to Argentina. However, the country’s government has now applied new rates for crypto miners in the province of Tierra del Fuego.
Argentina’s Energy Secretary of the Ministry of Economy published and announced resolution 40/2022, eliminating the energy government subsidies for crypto mining energy usage. The new rates make mining in the country up to four times more expensive than it used to be.
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