Venezuela Bans Bitcoin Miners From Power Grid Amidst Crisis
Venezuela's government has once again targeted Bitcoin miners, this time banning them from the national power grid. The move, announced on social media, aims to stabilize electricity supply for residents. This comes amidst a long-standing crisis in the country, marked by extreme inflation and an oil crisis.
The Ministry of Energy's decision follows a temporary ban in 2021, where mining devices were seized for state use. Environmental activist Daniel Batten believes this latest action is misinformation, with journalists acting as a mouthpiece for state propaganda. Thousands of mining devices have been seized in Maracay, Aragua state, allegedly as part of an anti-corruption campaign.
The use of cryptocurrencies has surged in Venezuela due to the instability of the state currency. However, many observers argue that power outages are not caused by mining companies but by the government's poor decisions, corruption, and the country's economic crisis. The government has previously targeted miners, attempting to seize their equipment and centralize mining.
The Venezuelan government has disconnected Bitcoin miners from the national power grid, citing the need to ensure a stable electricity supply for the population. The decision, which follows a previous temporary ban and seizure of mining devices, has been met with criticism from environmental activists and observers who attribute power outages to government mismanagement and corruption.
