Argentine government accused Bitcoin miners of high energy consumption

Over the last week there have been several blackouts in Argentina. As a result of this problem, the Argentine government seeks to implement measures to address the energy emergency that the nation is going through.

They consider cryptocurrency mining farms to blame for the large consumption of electricity they need. For that reason, the authorities are looking for these farms to increase the rates in those areas.

Cryptocurrency users have received a letter from CAMMESA (Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima), where they are required to provide details of their mining activities.

They propose to apply measures that serve as a collection to invest in infrastructure, which is able to cope with the high energy demand, but also seeks to reduce the proliferation of the crypto industry.

Currently, the Argentine government is already in charge of collection measures, it is a tax on operations with cryptocurrencies.

Reality or fiction?

Summer in Argentina has been one of the strongest recorded in recent years, high temperatures have at times exceeded 35 °C, and this leads to higher energy consumption. In any case, the Argentine State is willing to find guilty and that is when bitcoin and mining appear responsible.

Actually, the mining industry only consumes 0.1% of global energy, with more than half being renewable energy, as shown in graphs on the blog of Lyn Alden, investment specialist.

In Argentina, the electricity crisis is not a novelty, different editorials in the country have produced reports that indicate that the problem is due to the lack of maintenance of structures and plants.

These reports call into question the approach of the Argentine Government, which in addition to being a collection measure, would not solve the emergency, since the bitcoin mining industry is not the one with the highest energy consumption.