2023-04-20 22:59:02
© Reuters. Venezuela deactivates 75,000 Bitcoin miners
CriptoFácil – (BTC) miners in Venezuela face a critical moment due to the national blackout that affects the sector. In all, around 75,000 ASICs, specialized BTC mining equipment, were recently shut down.
This situation generated millions in losses, negatively impacting the sector and the employment of hundreds of people. At the same time, it harms the already fragile local economy in some regions.
Several Bitcoin miners, on condition of anonymity, shared their concerns about the regulation of cryptocurrencies in the country. They fear that the industry, which has moved forward in the past two years with greater regulatory clarity, will disappear or weaken.
Uncertainty grows among Bitcoin mining pool owners. After all, the National Superintendence of Cryptoassets (Sunacrip), the main regulator of the ecosystem in Venezuela, was intervened.
Pools with Sunacrip licenses had to stop operations a month ago. This came amid investigations related to the PDVSA-Crypto corruption scheme.
An estimated 1,600 people are at risk of losing their jobs and another 5,000 are indirectly affected. In addition, companies in the sector are forced to bear operating expenses, even without producing.
Bitcoin Miners
Bitcoin mining generates jobs and financially supports many families in Venezuela. However, the $11 million that miners are losing also represents a loss of revenue for the state-owned Corporación Eléctrica Nacional (Corpoelec).
It is estimated that Corpoelec is missing nearly $2 million a month in electricity bills paid by mining pool owners.
Venezuelan authorities remain silent on Sunacrip’s restructuring or intervention. Consequently, this raises speculation that Corpoelec may be appointed by the government to regulate digital mining.
This possibility worries several Bitcoin miners, who recall that last year, state-owned company officials shut down all mining pools in the state of Carabobo for three months. And, by reconnecting them, they increased the electricity rate by 30%, without any explanation.
Faced with this situation, the Venezuelan Bitcoin mining industry faces an uncertain future, with thousands of jobs at risk and millionaire losses, while it awaits a solution by the local authorities.
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