An increase in oil production in Venezuela involving American companies could lead to a decrease in electricity costs for Bitcoin miners in the long term. This forecast was made by analysts at Bitfinex, who analyzed the potential impact of energy changes on the cryptocurrency market.
This is reported by Finway
Long-Term Prospects for Lower Mining Costs
Experts estimate that improved access to stable and cheaper energy could foster the development of the mining industry worldwide. This is particularly relevant for regions where long-term electricity supply contracts are established. Even a partial return of Venezuelan oil to global markets could indirectly affect the energy sector, which over time would also impact the cost of Bitcoin mining.
“The expansion of oil production in Venezuela involving American companies could potentially lower electricity costs for miners.”
Analysts note that supporting miners is particularly important in light of the correction in Bitcoin prices, the increasing network difficulty, and rising electricity tariffs. By the end of 2025, these factors had already negatively impacted the profitability of the cryptocurrency industry.
Impact of Political and Economic Factors
At the same time, experts emphasize that a significant increase in oil production in Venezuela is a matter of several years and depends on political stability, the investment climate, and changes in the sanctions regime. To restore previous levels of oil production, the country requires substantial investments in infrastructure and a stabilization period, which hinders a rapid impact on energy markets.
In the short term, the impact on the cryptocurrency market will remain limited and will largely depend on the macroeconomic situation, particularly changes in risk appetite, volatility, and investor behavior.
Meanwhile, the political situation in Venezuela remains tense: following the arrest of President Nicolás Maduro, early elections may occur in the country. Among the potential candidates for the presidency is opposition politician and Bitcoin supporter María Corina Machado. According to market forecasts from Kalshi, the likelihood of her coming to power by the end of 2026 is estimated at around 27%.