The Argentine tax authorities Crackdown on unregistered cryptocurrency mining – and raided livestock and grain farms and found coin mining hardware worth about $20 million.
of government noticethe national tax agency, known locally as AFIP, said the equipment was found on the premises of an “agricultural company that specializes in raising livestock and growing grain.”
AFIP said the farm was located in the town of Reconquista in the province of Santa Fe. In addition to “video cards and motherboards used for cryptocurrency mining,” Farm added, “he acquired 35 cryptocurrency mining equipment.”
However, it appears that the hardware was not yet connected to the internet, and the farm operator could escape harsher punishment. However, the farm operator is likely to face fines, and it doesn’t look like the hardware was smuggled into the country.
AFIP exhibited last month Over 340 Illegally Imported Mining Equipment It was intercepted at one of the country’s largest ports. The rig was hidden inside a shipping container containing various consumer goods.
More Illegal Crypto Miners Arrested in Argentina
AFIP added that it also conducted another “operation” near Santa Fe at the “facility” where power consumption spiked by a whopping 800%.
Officers were sent to investigate, and equipment was unearthed, reportedly containing “96 video cards.”
AFIP says the hardware is worth an “estimated $14 million” and is “used to mine cryptocurrencies.”
The property owner said, “We hadn’t declared any related activities. [mining] of crypto assets,” the tax authority said. It added that it would impose “fines and corresponding tax adjustments” on miners.
AFIP is searching nationwide for cryptocurrency miners that have failed to register activity in the past few months after ministers. Called for virtual currency-related tax reform in February this year.