{"id":523275,"date":"2024-05-20T10:23:33","date_gmt":"2024-05-20T10:23:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=523275"},"modified":"2024-05-20T10:23:33","modified_gmt":"2024-05-20T10:23:33","slug":"venezuela-bans-crypto-mining-amid-recurring-blackouts","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/venezuela-bans-crypto-mining-amid-recurring-blackouts","title":{"rendered":"Venezuela Bans Crypto Mining Amid Recurring Blackouts"},"content":{"rendered":"<p>Venezuela has banned cryptocurrency mining activities amid a national energy crisis that is causing recurring blackouts.<\/p>\n<p>The Venezuelan Ministry for Electric Energy is also planning to disconnect miners from the national power grid to control demand.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Oficial?src=hash&amp;ref_src=twsrc%5Etfw\">#Oficial<\/a> Prohibida la miner&iacute;a de Criptomonedas en toda Venezuela.<\/p>\n<p>&mdash; Asonacrip (Asociaci&oacute;n Nacional de Criptomonedas) (@AsonacripVe) <a href=\"https:\/\/twitter.com\/AsonacripVe\/status\/1791656649301631294?ref_src=twsrc%5Etfw\">May 18, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Shutting down crypto mining farms will reduce demand and ensure the Venezuelan people can access efficient and reliable services, the energy ministry <a href=\"https:\/\/www.instagram.com\/reel\/C7C5P5xviC7\/?utm_source=ig_web_copy_link\" target=\"_blank\" rel=\"noopener\">said<\/a>. The government did not say whether the ban would be temporary or permanent.<\/p>\n<h2>Venezuela Seizes 2,000 Mining Rigs<\/h2>\n<p>The recent ban comes after <a href=\"https:\/\/albertonews.com\/nacionales\/venezuela-desconectara-todas-las-granjas-de-mineria-de-criptomonedas-para-controlar-demanda-electrica\/\" target=\"_blank\" rel=\"noopener\">local reports<\/a> that the Venezuelan government had seized over 2,000 crypto mining rigs in Maracay.<\/p>\n<p>The seizure is part of an anti-corruption probe leading to the arrest of several government officials, including the former head of the National Superintendence of Cryptoassets, Joselit Ram&iacute;rez.<\/p>\n<p>In a <a href=\"https:\/\/www.instagram.com\/lacava10oficial\/reel\/C7F1m8ZrIKB\/?hl=es-la\" target=\"_blank\" rel=\"noopener\">social media post<\/a>, Carabao&rsquo;s governor, Rafael Lacava, called for public cooperation to improve the country&rsquo;s electricity system. Lacava urged the public to report unlawful mining activities.<\/p>\n<p>It is not the first time the Venezuelan government has shut down crypto mining. In early 2023, crypto miners were banned from the country after a probe into the operations of the state oil company and the national crypto ministry.<\/p>\n<h3>Also Read:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/pepe-price-pumps-12-in-a-week-but-investors-are-flocking-to-this-multi-chain-dogecoin-derivative-and-its-53-annual-yield\">Pepe Price Pumps 12% In A Week, But Investors Are Flocking To This Multi-Chain Dogecoin Derivative And Its 53% Annual Yield<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/notcoin-price-prediction-not-plunges-13-as-experts-say-this-casino-token-might-be-the-best-crypto-to-buy-now\">Notcoin Price Prediction: NOT Plunges 13% As Experts Say This Casino Token Might Be The Best Crypto To Buy Now<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/is-it-too-late-to-buy-eth-ethereum-price-surges-5-as-coinbase-upbeat-on-eth-etf-approval-odds-and-this-might-be-the-next-crypto-to-explode\">Is It Too Late To Buy ETH? 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The Venezuelan Ministry for Electric Energy is also planning <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1911,"featured_media":381908,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Venezuela Bans Crypto Mining Amid Recurring Blackouts - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Venezuela has banned cryptocurrency mining activities amid a national energy crisis that is causing recurring blackouts. 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After graduating with an Honours in journalism, media and communications, he has been part of the crypto industry for more than a year now. Conducting on-chain analysis, breaking down market triggering events, and publishing Op-Ed pieces, he finds gratification diving deep into the crypto space, earning himself significant knowledge and experience. Aside from InsideBitcoins, Lockridge\u2019s latest works can be found on FXStreet.com","sameAs":["https:\/\/www.linkedin.com\/in\/lockridge-okoth-101147137\/","https:\/\/twitter.com\/Mocking84266113"],"url":"https:\/\/insidebitcoins.com\/news\/author\/lokoth"}]}},"modified_by":"Kevin Hamlin","_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/523275"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=523275"}],"version-history":[{"count":4,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/523275\/revisions"}],"predecessor-version":[{"id":532234,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/523275\/revisions\/532234"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/381908"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=523275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=523275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=523275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}