Venezuela has cut off power to all Bitcoin mines and seized more than 11,000 Bitcoin mining machines

BlockBeats news, on May 20, Venezuela's National Ministry of Electricity disclosed an action to monitor the activities of high-power customers connected to the national power grid, which has cut off power to all Bitcoin mines and seized more than 11,000 Bitcoin mining machines. The ministry said on social media that the plan aims to "disconnect all cryptocurrency mines in the country from the power system to avoid the high impact of these activities on demand."

Rafael Lacava, governor of Carabobo State, led a series of actions that ultimately confiscated more than 11,000 Bitcoin mining machines and cut off an unknown number of cryptocurrency mining farms. These actions will focus on reducing the energy used for these activities as the country faces continued power outages due to insufficient power generation caused by some climate and sanctions-related challenges. Lacava said miners cannot maintain operations, while ordinary people face continued energy outages. However, the authorities did not clarify whether these actions are certain or whether they will be applied when the national power system is adjusted to generate more energy.

Governor Lacava announced that more Bitcoin mining farms will be disconnected and that other measures, including a state executive order to reduce energy consumption in state institutions, will be announced in the coming days. The actions provide insight into Venezuela's cryptocurrency mining industry, which came at a time when several Bitcoin mining farms were disconnected after state cryptocurrency regulator Sunacrip was linked to a corruption scheme involving the sale of the sanctioned cryptocurrency petro.