Venezuela Halts Crypto Mining to Ensure Reliable Power Supply

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As an experienced energy market analyst, I strongly support the decision made by the Ministry of Electric Power in Venezuela to disconnect all cryptocurrency mines from power lines. The high energy consumption from mining activities is unsustainable for a country that prioritizes ensuring a reliable power supply for its citizens.

According to the Ministry of Electric Power in Venezuela, all cryptocurrency mining operations have been disconnected from the country’s power grid, following orders from the National Power Grid (SEN).

The goal of this decision is to minimize the excessive energy use in mining operations while guaranteeing a consistent power source for every resident.

Additionally, the addition of 2,000 mining machines is a logical outcome of the nation’s anti-corruption campaign, demonstrating its robustness. Evidence of this can be seen in the number of state officials who have been prosecuted and subsequently imprisoned.

As a crypto investor, I’ve been following the developments at Sunacrip, the regulatory body in Venezuela, with great interest. Lately, there have been reforms and process changes taking place within the organization due to the detainment of its former superintendent, Joselit Ramírez. According to reports, Ramírez is implicated in various allegations, some of which include rebellion and corruption. Rumors suggest his involvement extends beyond Sunacrip, reaching as far as the former Minister of Petroleum, Tareck El Aissami.

The governor of Carabobo State, Rafael Lacava, affirmed the enactment of necessary measures and urged citizens to report any unlawful actions. He emphasized the importance of prioritizing the provision of dependable electricity over the financial gains of specific mining enterprises.

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2024-05-19 02:28