Cryptocurrency, News, Taxes

57 Mining Rigs Uncovered As Argentina Fights against Illegal Mining

Recently, the Argentine tax authorities reportedly uncovered about 57 illegal crypto mining rigs as they continue to fight crypto tax evaders. According to the reports, the tax body plans to ensure every crypto operation in the country is taxed.

Tax Agency And Local Forces Cracked Down 57 Illegal Mining Rigs

The local tax authority, AFIP, began chasing after illegal crypto miners in February when the Argentina government reformed its crypto tax policy. The agency became active last month as it started fishing out and closing down unregistered mining rigs.

However, it has become more fierce as it partners with customs and other security bodies to carry out its operations. The partnership, ordered by the country’s government, has already become very effective, as reported. 

According to the reports, the joint force raided numerous crypto mining sites hideouts in Rio Cuarto, Cordoba. In addition, they seized about 57 rigs and 342 video cards worth $420K.

Speaking with a journalist, an unidentified officer revealed the rigs uncovered in Rio Cuarto consume a lot of electricity. He added that they use electrical energy worth about $13,260 to power their operation every month.

AFIP Plans To Tame Crypto Tax Evaders In Argentina 

Additionally, the tax agency commented that the new reinforcements would help them tame tax evaders. It also mentioned that it would obligate miners to declare the correct data on profits they made from all their crypto operations. 

The agency continued that the new allegiance would make it difficult for any crypto miner to evade paying tax. In addition, it suggested that many domestic miners smuggle their mining tools into the country illegally. 

According to reports, Argentina authorities started paying close attention to crypto miners in August. That was when AFIP ushered in a new administrative board.

Since then, the tax agency has been clamping down on illegal miners who refused to declare their income. In addition, the agency claimed to have disrupted mining activities in several regions in the country, like Santa Fe and others.

Furthermore, the authority raided a site in San Juan Province where farmers planted a concealed rig in a fruit cooling site. The agency promised to intensify its operations until it exposes all illegal miners nationwide.

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