en
Back to the list

Bitcoin Mining Booms in Argentina in the Wake of Growing Hyperinflation

source-logo  coingape.com  + 11 more 31 May 2021 14:24, UTC
image
Argentina is increasingly becoming the choice of Bitcoin miners because of the availability of cheap subsidized commercial electricity and controlled foreign exchange limit which help miners to make significant profits on Bitcoin mining. At a time when hyperinflation has forced citizens to look for a better alternative and a limit of $200 for currency conversion, Bitcoin has actively become a prominent way for people to save their earnings.

Earlier, Argentina’s growing inflation had led to a significant portion of the country turning to Bitcoin to use it as an inflation hedge.  Now Bitcoin mining is proving to be a profitable investment. A miner from Buenos Aires explained why Bitcoin mining is a profitable investment in the region.

coingape.com

Similar news (11)
Add similar news

Add similar news

Send us a link to a similar news story on another source.

Why do we need it

The citation rate of a news item indicates its importance and significance. The number of mentions in different sources allows you to look at an event from different angles.

Please help us improve the application. If we have published news and you have found a similar one in another source, send us a link to it.