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<p>Venezuela has banned cryptocurrency mining activities amid a national energy crisis that is causing recurring blackouts.</p>
<p>The Venezuelan Ministry for Electric Energy is also planning to disconnect miners from the national power grid to control demand.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="es" dir="ltr"><a href="https://twitter.com/hashtag/Oficial?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Oficial</a> Prohibida la minería de Criptomonedas en toda Venezuela.</p>
 <p>— Asonacrip (Asociación Nacional de Criptomonedas) (@AsonacripVe) <a href="https://twitter.com/AsonacripVe/status/1791656649301631294?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 18, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<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 noreferrer nofollow">said</a>. The government did not say whether the ban would be temporary or permanent.</p>
<h2 id="venezuela-seizes-2-000-mining-rigs">Venezuela Seizes 2,000 Mining Rigs</h2>
<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 noreferrer nofollow">local reports</a> that the Venezuelan government had seized over 2,000 crypto mining rigs in Maracay.</p>
<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 Ramírez.</p>
<p>In a <a href="https://www.instagram.com/lacava10oficial/reel/C7F1m8ZrIKB/?hl=es-la" target="_blank" rel="noopener noreferrer nofollow">social media post</a>, Carabao’s governor, Rafael Lacava, called for public cooperation to improve the country’s electricity system. Lacava urged the public to report unlawful mining activities.</p>
<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>
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Venezuela Bans Crypto Mining Amid Recurring Blackouts

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