The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners, in a resolution issued by the Energy Secretary.
The Energy Secretary of Argentina eliminated power subsidies for cryptocurrency miners, raising the cost of energy to almost 4x what the miners were paying before. The measure affects customers of the wholesale power market in the Tierra del Fuego province, one of the provinces more notably occupied by miners in the country due to its specific climate characteristics.The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners.
, published and made official on February 1st, miners will now pay almost four times what they did before.The new price of energy for miners in Ushuaia and the Rio Grande will be 5,000 ARS per MW/H. Before this resolution was published, these same miners were paying around 1,764 ARS per MW/h.
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