Cryptocurrency mining has a strong presence in Latin America, with rig prices changing according to the country in question. Clearly, some Latin American countries have better profitability possibilities than others. The value is influenced, in addition to the plates, by the type of rig implemented and the costs linked to the electrical energy used.
The prices of cryptocurrency mining rigs in Latin America may vary depending on the country and the type of system implemented for the work. The activity has a strong presence in the region, where clearly some have better profitability possibilities than others.
Although it is difficult to provide an exact price range, since the market is constantly changing and is affected by factors such as the price of electricity, it is possible to take a tour of several of the leading countries in the matter.
The Value of a Cryptocurrency Mining Rig in Argentina
According to data collected by the Precedence Research firm, the global cryptocurrency mining market was almost 2 billion dollars in 2022 and is expected to reach 7 billion by the end of 2023. This global growth could mean a great possibility for Argentina, whose interest in the industry places it among the 20 countries (ranked 15th) with the highest adoption of cryptocurrencies, according to the Chainalysis firm.
As Facundo Casal, co-founder of South American Miners, mentions to his colleague iProUP, an ASIC generates about $250 per month. amount from which electricity costs must be subtracted. The specialist affirms that it is possible to start the activity with 300 or 500 dollars, although we will not be in the presence of a very profitable team. From an investment between 2,500 or 3,000 dollars, the profits begin to be important.
The Value of a Cryptocurrency Mining Rig in Mexico
According to what was disclosed by the CoinGecko report, the price of energy in Mexico ($26,340 to mine a Bitcoin) is practically the same value as the cost of the system used to mine. This reality begins to explain the differences between the small and the large who dedicate themselves to this activity.
A mining rig can cost around 12 thousand dollars in Mexico. The account is completed with the expenses regarding the energy necessary for work. The high costs of energy in that country have made cryptocurrency mining a practice whose profit margin is increasingly smaller. A single Bitcoin requires around 250 thousand Mexican pesos (almost 14 thousand dollars) in electrical energy to be extracted.
The Value of a Cryptocurrency Mining Rig in Colombia
A mining rig with about 12 graphics cards can cost 60 million pesos (more than 15 thousand dollars) in Colombia. However, the case is similar to Mexico in terms of the cost of electrical energy. An account that carries the amount of dollars necessary to mine a Bitcoin at almost 48 thousand dollars.
The Value of a Cryptocurrency Mining Rig in El Salvador
The $0.19 cost per kWh, added to the fluctuations in the price of different cryptocurrencies, have brought the activity to a point where it is difficult to obtain profits. Getting the necessary equipment for the process can cost about 10 thousand dollars in that country.
How Profitable Is Cryptocurrency Mining in Venezuela?
Obtaining a Bitcoin in Venezuela is around $12,000. The profit margin is obtained at industrial levels, not for those who do residential mining. The activity is profitable, especially thanks to the value of energy. However, the temporary ban on cryptocurrency mining is killing the industry.
By Audy Castaneda