US access to Venezuelan oil could reduce Bitcoin mining costs
Analysts believe that in the long term, US access to Venezuela’s oil resources may lower electricity costs for Bitcoin mining and improve miners’ profitability.
Source Cointelegraph
However, the effect will not be immediate: a significant increase in oil production and its impact on energy prices will take years, despite US interest and Chevron’s presence in the country.
This indicates that effectively leveraging Venezuelan oil resources for energy markets will require time but could potentially create favourable conditions for the mining industry.
