bitcoin mining challenges, renewable energy investment, cryptocurrency regulation trends

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For bitcoin miners, cheap electricity in developing countries looks attractive on paper.

But Ethiopia just froze mining permits and Bitfarms shut down their Argentina operation after their utility provider went bankrupt and their power got cut.

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While energy costs are… pic.twitter.com/weAYgChOwN

— Tomas Greif (@TomasGreif) August 16, 2025

For bitcoin miners, cheap electricity in developing countries looks attractive on paper.

As Bitcoin mining continues to expand globally, many miners are drawn to developing countries where electricity costs are lower. This scenario seems ideal for maximizing profits while minimizing operational costs. However, recent developments have revealed that the reality isn’t as straightforward as it may appear.

But Ethiopia just froze mining permits

Ethiopia’s recent decision to freeze mining permits serves as a cautionary tale for those looking to capitalize on cheap energy. This move highlights the regulatory risks associated with entering markets that may seem lucrative at first glance. It’s a reminder that while cheap electricity is appealing, the political and economic stability of a country plays a significant role in the sustainability of mining operations.

Bitfarms shut down their Argentina operation after their utility provider went bankrupt and their power got cut.

Similarly, the situation in Argentina has raised eyebrows. Bitfarms, a notable player in the Bitcoin mining industry, recently shut down its operations there due to its utility provider’s bankruptcy. This situation underscores the volatility and unpredictability of energy supply in developing nations. Without a reliable power source, even the cheapest electricity becomes worthless.

While energy costs are…

While energy costs remain a critical factor for miners, these recent developments emphasize the importance of considering other variables such as regulatory frameworks and the financial health of utility providers. Investors and miners need to conduct thorough due diligence before embarking on operations in these regions.

Overall, the allure of cheap electricity in developing countries can be deceptive. It’s essential to evaluate not just the costs but also the broader economic and political landscape before making any commitments in the Bitcoin mining sector.