It reveals that there are constant power outages in some areas. In parts of Cuba, cryptocurrency mining has become unsustainable and rigs can no longer operate. The blackout also affected telecommunications, leaving some of these operations dependent on off-grid power plants without needing internet to complete their mining tasks.
Cryptocurrency mining in Cuba is not feasible in the current situation
Cuba uses cryptocurrency as an alternative to services not available to its citizens, so cryptocurrency has reached a remarkable level of functionality. You can also get it in other ways, such as international shopping, mobile and internet top-up services, and even sending and receiving money transfers. However, cryptocurrency mining faces problems to reach the same level of popularity.
Cubans once considered cryptocurrency mining a wise investment, but this idea has been disrupted by the current state of Cuba’s power grid and the constant blackouts facing the country. Reidel Gonzalez, a small-scale cryptocurrency miner who built his own rig, told local news site Cubanet about the difficulties miners are facing in the country today. explained. He stated:
I, like many others, invested heavily in cryptocurrency mining equipment that wasn’t cheap. . With the advent of blackouts, cryptocurrency mining in Cuba is unsustainable.
Other miners, such as Eduardo Gomez, have purchased power plants to continue their operations, but due to a shortage of gas, these miners run on off-grid electricity. It is also becoming difficult to sustain the operation of Gonez explained that he is still unable to generate a return on his $5,000 investment.
Telecommunications are also affected
But even miners who manage to operate off-grid with a constant flow of gas to ruin the plant , are affected by this issue. This is because these blackouts have also affected the local telecommunications network, which cannot operate in the limited plants utilized by Etectsa, a local Cuban telecommunications company.
This issue was reported in his June when a company executive was already facing a similar problem. At the time, an anonymous Etecsa employee of hisstated:
Etecsa’s generators are running out of fuel to support hours of power outages. . Everything goes wrong because plants cannot produce all the energy needed to keep so many devices running for long periods of time.
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