Key Takeaways:
A 2026 Hashrate Index report highlights Latam’s mining development, noting Paraguay holds 4.3% of worldwide hashrate. Brazil grew its Bitcoin hashrate by 133% YoY as miners safe decrease tariffs immediately from power mills. Future Venezuela operations can leverage its potential by capturing stranded power through OFAC licenses.
Hashrate Index’s Latam Bitcoin Mining Report Highlights Brazil’s and Venezuela’s Potential
Whereas the worldwide share of bitcoin mining hashrate is dominated by nations just like the U.S., China, and Russia, Latam is perhaps on the verge of changing into a bigger participant on this market.
In response to Hashrate Index’s “The State of Bitcoin Mining in Latin America (2026)” report, whereas Paraguay has the fourth place of nations internet hosting probably the most bitcoin hashrate with 43 EH/s and 4.3% of the worldwide hashrate, Brazil and Venezuela have the potential to develop and switch Latam right into a Bitcoin mining superpower.
Brazil, which has elevated its hashrate share by 133% year-over-year, has opened new alternatives for miners, as they’ll now negotiate immediately with firms within the power era market to lock up tariffs, bypassing distributor tariffs and different surcharges.
Whereas the report stresses that power era outpaces transmission, the Sul area, with its low industrial energy charges, can turn into a bitcoin mining haven for firms looking for to enter the bitcoin mining business.
Venezuela, then again, reveals an untapped potential, because it registers 5 EH/s even below the present circumstances. The report states:
“What Venezuela has, and what no different nation in Latin America has on the identical scale, is a mixture of stranded power and an OFAC licensing framework that’s already opening up the nation’s power,”
Because of deficiencies within the energy grid, a big portion of the ability generated can’t be transmitted to the ultimate shopper. Bitcoin mining operations deployed close to era sources might seize it earlier than it will get misplaced in transmission.
“The template for personal capital getting into Venezuela’s power sector with OFAC authorization already exists. Bitcoin miners can leverage the identical authorized construction,” the report concluded.
