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 nations.
Necessary 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 straight from vitality era corporations.
- Future Venezuelan operations can faucet into that potential by recovering stranded vitality by means of 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 nations comparable to the USA, China, and Russia, however Latin America could also be poised to change into a fair greater participant on this market.
In line with 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 straight with corporations within the vitality era market, bypassing service provider charges and different surcharges.
Whereas the report highlights that vitality era is outpacing electrical energy transmission, the Suru area, with its low industrial energy costs, might change into a Bitcoin mining haven for corporations trying to enter the Bitcoin mining trade.
However, Venezuela nonetheless information 5 EH/s beneath present circumstances, displaying untapped potential. The report states:
“What Venezuela has, and what no different nation of its measurement in Latin America has, is a mix of caught vitality and an OFAC licensing framework that’s already opening up vitality on this nation.”
On account 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 reap the benefits of the identical authorized construction.” the report concluded.
