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Bitfarms mega-mining facility raises concerns among Argentine lawmakers – Mining Bitcoin News


The construction of a bitcoin mega-mining firm in Argentina by BitFarms is raising concerns among lawmakers. Martin Berhongare, a national deputy, recently submitted a proposal to force the government to release information about facility installations through representatives from the Ministries of Science, Technology and Innovation, Environment and Sustainable Development and the country’s economy.

Bitfarms mega farm legislators in the sights

The ambitious project that BitFirms, a mining head office in Canada, is building in Argentina, has already begun to raise concerns with Argentine legislators. Martin Berhonger, a national deputy, submitted a law proposal to the government to explain how the agreement was made and whether the company passed the supervision of various state institutions involved in the agreement, such as science, technology and innovation, environment and sustainable development, and the country. Of economics.

Require disclosures related to the law proposal:

Capable fields in energy, environmental and economic matters have registered an agreement announced by the Canadian company Bitfarms to source electricity through a Wholesale Electricity Market Agent (MEM) for 8 years.

The mining firm will host 55,000 mining machines, while BitFirms will enter into an agreement with a private power company to acquire 210 MW (MW) of infrastructure power at a rate of 2.2 cents per kilowatt-hour.

More concerns

The proposal appears to be directed at gathering information about the energy facilities that will provide the power and the sustainability of this agreement in the future. Although the company that is building has been identified as PROA, the location of the power company and the facility is still a mystery to the public, as it has only been revealed that it is going to be located in a rural area in a recent PR. Statement

These doubts certainly influenced the proposal, which asks:

If the total electrical system installed in the country, or the upcoming installation, has that available capacity. If the electricity used is used, it will be subsidized from government funds.

The reason why bitfarms spread to Argentina is no secret. The region offers affordable energy opportunities in certain parts of the country and is attracting more and more companies to the area as a potential expansion destination. Geoffrey Murphy, president of BitFirms, concludes:

With many years of energy available to us at low enough costs, we can improve our short-term margin performance and ensure an efficient operation.

What do you think about installing BitFarms Bitcoin mega-mining facility in Argentina? Tell us in the comments section below.

Image credit: Shutterstock, Pixabay, Wiki Commons

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