The Paraguay National Energy Department (ANDE) has announced a significant 14% increase in electricity prices, specifically targeting Bitcoin and other cryptocurrency mining.
The decision has raised concerns about the sustainability of these activities in the country. According to local media, the tariff adjustment affects various aspects of crypto mining, including blockchain, tokens, and operations in data centers.
The response from industry leaders and Bitcoin supporters was swift, with politicians expressing criticism. Senator Salin Buzarkis strongly condemned the 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 incentivize BTC miners to seek more economically viable alternatives, reflecting 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 stance on crypto mining.
