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Bitcoin Miners Deprived of Power Supply in Venezuela

Bitcoin miners
Bitcoin miners

Bitcoin Miners Deprived of Power Supply in Venezuela.

Reguratory authorities in Carabobo has discontinued the power supply of registered miners in the key industrial Venezuelan state yesterday, without justification.

Although, it is alleged that the mining userbase consumes massive energy, endangering the power supply and the electric grid for other subscribers.

Information gotten reveals that, the national power corporation and the Venezuelan cryptocurrency watchdog, Sunacrip, are planning to meet in other to get abrest with the situation, meanwhile trying to solve miners shortcomings.

Bitcoin Miners Deprived of Power Supply in Venezuela.

Carabobo is an integral part of the cryptocurrency and bitcoin mining companies that operate in the country, and this criterion influences the sustainability of these operations.

Cryptocurrency mining, which has been legal in Venezuela since Sunacrip passed a bill that regulated mining activities in the country, imploring all Venezuelans  to obtain a license issued by Sunacrip. Miners must also detail their activities and keep a record of these for 10 years, according to the law. However, there are many miners that don’t trust the government and have decided to mine underground.

Bitcoin Miners Deprived of Power Supply in Venezuela.

Therefore, this new measure might be a tension signal to all miners whether on ground or underground, to compel them to register with the national watchdog and to start mining in a legal technique.

It is possible that the government officials might have foreseen an unstable power grid situation occurring at the same time the election of government party officials happened this weekend.

Till now fingers are crossed as we expect due information on this issue.

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