Venezuelan Bitcoin Miners’ Power Supply Suspended

In the area of Carabobo, Venezuela, the power supply being utilized by Bitcoin miners has been suspended by the regional authorities. So far no credible information is available why such drastic action has been taken against the state registered miners. The only rumor surfacing is that the power supply has been cut because there was huge consumption of electricity.

Carabobo is one of the key areas in Venezuelan which hosts most of the country’s industries, including the mining industry as well. However, as per the recent developments taking place in this area, it was noted that the power supply to Bitcoin miners has been suspended. It was reported that the majority of the Venezuelan Bitcoin miners are running their mining farms in close proximities within the area. The regional authorities concerning electric supply have suspended power sources from the miners without giving any reason at all. The miners are confused why such a drastic measure has been taken against them, although they are registered miners.

So far the regional authorities have not explained why this action has been initiated. However, there is a rumor that because of huge energy consumption, the authorities were forced to shut down miners’ power sources. The local residents are also claiming that the miners were utilizing huge amounts of electricity. This then led to power shortage which in turn resulted in power outages thereby damaging the main grid as well.

This issue has also come into the knowledge of Sunacrip, which is a Venezuelan authority looking at the affairs of virtual assets. Sunacrip has informed that it is aware of the suspension of the power source, however, it is not aware of the actual reason. Sunacrip has proposed to meet with the regional authorities on an urgent basis. The authority is certain that it will be able to come to a solution with the cooperation of regional authorities. Sunacrip suggested that the miners’ interests are the interest of the state and they shall be fully protected by all means necessary.

Meanwhile, the miners are sitting idle outside their mining facilities. They claim that none of them are illegal miners but in fact, each one has been registered with the state’s authority. Suspending their power source is an act that deprives them of doing their lawful business.

There was also news that the miners were planning to hold a protest against the Carabobo’s regional authorities. However, with the intervention of Sunacrip, they have decided to postpone their protest. They have insisted Sunacrip resolve the matter as early as possible because they are bearing losses.

Carabobo is one of the biggest and busiest mining industries of Venezuela where most of the crypto produced is that of Bitcoin. Due to China’s mining crackdown, the burden of fulfilling crypto demand has been shifted on global miners and Carabobo is no exception.