A brand new report on the state of Bitcoin mining in Latin America finds that the area has been gradual to undertake Bitcoin mining regardless of its huge vitality sources. Paraguay holds the fourth place in international hashrate, whereas the hashrate index ranks Brazil and Venezuela as the subsequent international locations.
Essential factors:
- The 2026 Hashrate Index report highlights the expansion of mining in Latin America, noting that Paraguay holds 4.3% of the world’s hashrate.
- Brazil has seen a 133% year-on-year enhance in Bitcoin hashrate as miners safe decrease charges immediately from vitality technology firms.
- Future Venezuelan operations can faucet into that potential by recovering stranded vitality by an OFAC license.
Hashrate Index’s Latin America Bitcoin Mining Report Highlights the Potential of Brazil and Venezuela
The worldwide share of Bitcoin mining hashrate is dominated by international locations akin to america, China, and Russia, however Latin America could also be poised to turn out to be a fair larger participant on this market.
Based on Hashrate Index’s State of Bitcoin Mining in Latin America 2026 report, Paraguay ranks fourth within the nation with essentially the most Bitcoin hashrate with 43 EH/s and 4.3% of the world’s hashrate, whereas Brazil and Venezuela have the potential to develop and switch Latin America right into a Bitcoin mining powerhouse.
Brazil, which has elevated its share of hashrate by 133% year-on-year, has created new alternatives for miners as they’ll now negotiate and lock in charges immediately with firms within the vitality technology market, bypassing service provider charges and different surcharges.
Whereas the report highlights that vitality technology is outpacing electrical energy transmission, the Suru area, with its low industrial energy costs, might turn out to be a Bitcoin mining haven for firms seeking to enter the Bitcoin mining business.
Alternatively, Venezuela nonetheless data 5 EH/s beneath present situations, exhibiting untapped potential. The report states:
“What Venezuela has, and what no different nation of its dimension in Latin America has, is a mixture of caught vitality and an OFAC licensing framework that’s already opening up vitality on this nation.”
As a consequence of deficiencies within the electrical energy grid, a big portion of the electrical energy generated can’t be transmitted to finish shoppers. Bitcoin mining operations deployed near the supply have the potential to seize bitcoins earlier than they’re misplaced in transit.
“A template already exists for personal capital to enter Venezuela’s vitality sector with OFAC approval. Bitcoin miners can benefit from the identical authorized construction.” the report concluded.
