The Paraguayan National Energy Administration (ANDE) has announced a significant 14% increase in electricity tariffs, specifically targeting Bitcoin and other cryptocurrency mining activities.
This decision has raised concerns about the sustainability of these activities in the country. According to local media, the tariff adjustments affect various aspects of crypto mining, including blockchain, tokens, and operations in data centers.
The reaction from industry leaders and Bitcoin supporters was swift, with politicians expressing criticism. Senator Salin Buzarkis strongly condemned this move, stating that it reveals internal contradictions within the Paraguayan government and may hinder future investments in the sector. He highlighted the alleged unfairness, noting that these companies have already made significant financial commitments in Paraguay.
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The revised tariff policy may push BTC miners to seek more economically viable alternatives, mirroring the recent changes observed in Argentina, where lower electricity costs and favorable tax conditions are attracting interest.
This development reflects a broader trend in Latin American countries, which are adapting to the changing economic dynamics and reevaluating their positions on crypto mining.
