Guatemala’s mining industry is still in the early stages of its development, but the country is set to be one of the biggest players in the global cryptocurrency mining industry.
According to a report from blockchain mining company Rivetz, the country has already received a total of $2.5 million in bitcoin mining contracts.
Rivez has been mining cryptocurrencies since 2014, when it began offering cryptocurrency mining services to miners in the country.
According the report, Guatemala has already been mining blockchain assets for the past six months, with about $2 million of mining contracts to date.
The country also recently received a $100,000 contract from Riveza’s mining partner to mine Bitcoin, Ethereum and Litecoin.
“Guatemala is one of few countries that has the infrastructure and technical infrastructure to develop blockchain mining operations,” said Riveez CEO, Rodrigo Pérez, in a press release.
“The country has the technical and financial capacity to be a leader in the world of cryptocurrencies, but unfortunately, we have to wait until the country gets ready to start mining cryptocurrencies.”
According to the Riveze’s CEO, the mining of cryptocurrencies is a booming industry in Guatemala, which has seen a surge in cryptocurrency adoption.
The Guatemalan mining industry has attracted thousands of miners and thousands of companies from all over the world.
In order to secure the future of cryptocurrency mining, Guatemala is investing in its blockchain infrastructure, including the Ethereum blockchain, which is a decentralized and decentralized cryptocurrency network.
According Rivezac, it is critical for Guatemala to build a mining infrastructure that is able to handle the demand for cryptocurrencies.
“Guatemalan cryptocurrency mining is a key driver of the mining industry in the next five years,” Péres said.
“We are hopeful that the mining boom in Guatemala will not only increase our industry, but will be an important catalyst for our mining industry.”