The Venezuelan government has recently seized 2,000 crypto mining devices as part of its efforts to address the country’s energy crisis and combat corruption. The government plans to disconnect cryptocurrency mining farms from the power grid to reduce the strain on the energy supply and ensure a stable electricity flow for its residents. This decision comes as a response to the excessive energy consumption caused by the soaring power needs of cryptocurrency mining businesses in the country.
The move aims to alleviate the significant burden that these activities place on the power grid and enable the provision of efficient and reliable electricity services throughout Venezuela, as reported by AlbertoNews. Furthermore, the government’s action to confiscate thousands of mining units serves as a response to the ongoing instability of the national electricity supply over the past decade, which has resulted in frequent blackouts negatively impacting the quality of life and the economy.
The crackdown on cryptocurrency mining forms part of the government’s broader campaign against corruption, which has led to the arrest of numerous officials, including Joselit Ramírez, the former chairman of the National Superintendency of Cryptoassets (Sunacrip). Rafael Lacava, the governor of Carabobo state, has stressed the importance of public assistance in identifying illicit mining operations. He urged the community to report any illegal activities to safeguard the electricity service.
In other cryptocurrency news, Zeebu has achieved a significant milestone by surpassing US$2 billion in total payments volume. This achievement highlights the growing popularity and adoption of cryptocurrencies in today’s financial landscape.
