A brand new report on the state of bitcoin mining in Latam discovered that the area is lagging within the adoption of bitcoin mining, even because it possesses huge vitality assets. Whereas Paraguay ranks fourth in world hash charge, Hashrate Index selected Brazil and Venezuela because the nations to observe.
Key takeaways:
- A report from the Hashrate Index 2026 highlights Latam’s mining progress and factors out that Paraguay owns 4.3% of the world’s hashrate.
- Brazil elevated its Bitcoin hashrate by 133% year-on-year as miners get decrease charges immediately from energy mills.
- Future operations in Venezuela can harness its potential by capturing stranded vitality by way of OFAC licenses.
Hashrate Index’s Latam Bitcoin Mining Report Highlights the Potential of Brazil and Venezuela
Whereas the worldwide bitcoin mining hashrate share is dominated by nations akin to the USA, China and Russia, Latam might be on the verge of changing into an even bigger participant on this market.
In response to the report “The State of Bitcoin Mining in Latin America (2026)” by Hashrate Index, whereas Paraguay ranks fourth among the many nations internet hosting the most important quantity of 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% yr over yr, has opened up new alternatives for miners as they’ll now negotiate immediately with corporations within the energy technology market to set charges, avoiding distribution charges and different surcharges.
Whereas the report emphasizes that energy technology exceeds transmission, the Sul area, with its low industrial vitality charges, can develop into a bitcoin mining paradise for corporations seeking to enter the bitcoin mining trade.
Venezuela, however, exhibits untapped potential, recording 5 EH/s even beneath present situations. The report states:
“What Venezuela has, and what no different Latin American nation has on the identical scale, is a mixture of stagnant vitality and an OFAC licensing framework that’s already opening up the nation’s vitality.”
Because of deficiencies within the electrical grid, a lot of the vitality generated can’t be transmitted to the top client. Bitcoin mining operations deployed close to technology sources may seize it earlier than it’s misplaced in transmission.
“The mannequin for personal capital to enter Venezuela’s vitality sector with OFAC authorization already exists. Bitcoin miners can benefit from the identical authorized construction.” concluded the report.
