Venezuelan authorities have begun cracking down on cryptocurrency miners to protect the South American country's power grid.
In an Instagram post on Friday, the country's Ministry of Energy (Spanish acronym: MPPEE) said: Said The idea is to disconnect all mining operations from the country's National Electricity System (SEN).
miner needed to help Bitcoin and other cryptocurrencies to function as intended. Such operations often take place in large warehouses full of computers that use vast amounts of energy to mint new digital coins and keep crypto networks secure.
However, such operations have been criticized by lawmakers around the world due to their high energy consumption.
MPPEE said in a post that the measures were taken to “avoid significant demand impacts” on the power grid and to ensure that SEN “continues to provide efficient and reliable service to all Venezuelans.” He said that he was injured.
The post featured a video of authorities raiding what appears to be a cryptocurrency mining operation.
Venezuela, which has experienced a devastating economic collapse since 2010, has long been plagued by power grid problems. Although the problem is not as severe as before, Back in 2019Power outages are still occurring in some parts of the country.
Last September, Venezuelan police attacked A prison where prisoners were conducting a secret Bitcoin mining operation.And in early 2023, national regulators launched Crackdown on miners.
Despite this, the country remains keen on using cryptocurrencies. State oil company PDVSA reportedly wants to use digital assets. USDT in exchange for crude oil and fuel exports as a means of circumventing U.S. oil sanctions. Reuters report last month.
Editor: Andrew Hayward
