Spain is looking to make itself a Bitcoin mining hotspot following the internet shutdown that caused a mining outage in Kazakhstan.
A Spanish lawmaker is proposing legislation that would make Spain a Bitcoin mining hotspot following the internet shutdown that caused a mining outage in Kazakhstan.
The legislation, which has been proposed by Spanish lawmaker Pedro Arrojo, aims to attract cryptocurrency miners to the country by offering them tax breaks and other benefits.
Arrojo told Reuters on Saturday that he believes this would be an opportunity for Spain as it would result in more jobs and economic prosperity for the country.
The lawyer and economist Muñoz was steadfast in her support of Spain as a Bitcoin (BTC) and said in the tweet.
He said: “The protests in Kazakhstan have repercussions all around the world but also for Bitcoin. We propose that Spain positions itself as a safe destination for investments in cryptocurrencies to develop a flexible, efficient and safe sector.”
Spain has an abundance of renewable energy sources, which are necessary for Bitcoin mining. The country also has a lot of idle land, which can make it easier to find space to build these mines. This would be a good opportunity for Spain because they have been struggling with unemployment rates and this would give them an opportunity to create jobs.