Investments in cryptocurrency mining in Cuba have been ruined by frequent blackouts

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Numerous small investors have expressed that they are unable to run their mining rigs due to the frequent blackouts that occur in various areas of Cuba.

The telecommunications are also impacted by the blackouts, which prevents some of these operations that rely on off-grid power plants from using the internet to fulfill their mining responsibilities.

Cubans use cryptocurrency as a substitute for services they wouldn’t otherwise be able to access, such as international shopping, mobile and internet top-up services, and even sending and receiving remittances. As a result, cryptocurrency has developed to a notable level of functionality in Cuba.

However, it is difficult for bitcoin mining to achieve the same level of popularity.

Although cryptocurrency mining was formerly viewed as a wise investment by Cubans, this notion has been destroyed by the present status of the country’s electrical grid, which puts mining operations in danger due to the nation’s frequent blackouts.

Like many others, I had spent a lot of money on expensive cryptocurrency mining equipment.

Blackouts have made cryptocurrency mining in Cuba unprofitable.

But even miners who have been able to operate their businesses independently by securing a steady supply of gas to fuel their plants are feeling the effects of the problem.

This is because the local telecom grid is also being affected by these blackouts, and the restricted plant capacity used by Etectsa, the local Cuban telecom operator, makes it unable to function.

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