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Argentina seized 2,200 mining devices due to overpricing

Argentina seized 2,200 mining devices due to overpricing

The reason for the equipment seizure was the excessive prices of imported devices.

According to Ambito, a local publication, the documents provided upon importation indicated a value of $21.9 million for the entire batch of equipment. According to preliminary customs estimates, the discrepancy between the equipment's actual value was approximately $5 million.

The price of one Whatsminer device was set at $10,000, while according to customs data, the cost of one such miner does not exceed $7,700. For more accurate calculations, additional expertise will be conducted.

Equipment belonging to a U.S. company was transported to Argentina from China. The equipment was destined for the La Plata Free Economic Zone, which is not subject to the country's customs code. According to investigators, the fraudsters used this route because they did not need to make a SIMI (Comprehensive Import Monitoring System) declaration to transit to the special territory.

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