![\"Venezuela](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/07\/venezuela-bans-bitcoin-mining-operations-in-the-countrys-public-housing-sector-768x432.jpg\")
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According to the Venezuelan Minister of Habitat and Housing, the government has banned mining operations in any low-income neighborhoods with subsidized housing. Ildemaro Villarroel told the public the restrictions are due to “high power consumption” in those areas.<\/strong><\/p>\n The United Socialist Party of Venezuela has decided to not allow cryptocurrency mining in specific neighborhoods, specifically low-income areas with subsidized electrical costs.<\/p>\n Venezuela’s Minister of Habitat and Housing, Ildemaro Villarroel, explained that the ban was due to an excessive amount of power consumption. The news follows the story<\/a> about the Venezuelan military that recently seized approximately 315 Bitmain Antminers.<\/p>\n Villarroel said during the announcement that “it is forbidden to install cryptocurrency mining equipment in urban plannings of Gran Misión Housing Venezuela for its high energy consumption.” The Minister added:<\/p>\n In this coordinated work, we have detected the harmful effects of these elements of high electrical demand in the public houses of the Gran Misión Vivienda project.<\/strong><\/em><\/p>\n<\/blockquote>\n A small clip of Villarroel’s announcement was tweeted<\/a> by Vtv Canal 8, a Venezuelan television broadcast. Some individuals didn’t like the bitcoin mining mandate in these neighborhoods and one person tweeted<\/a> “only for the government.”<\/p>\n #EnVideo<\/a> 📹| Queda prohibido instalar equipos de minado de criptomonedas en urbanismos de Gran Misión Vivienda Venezuela por su alto consumo de energía, informa ministro de Hábitat y Vivienda, Ildemaro Villarroel #CuarentenaRadicalYSegura<\/a> pic.twitter.com\/awfqy9OaIM<\/a><\/p>\n — VTV CANAL 8 (@VTVcanal8) July 15, 2020<\/a><\/p>\n<\/blockquote>\n In March 2017, prior to bitcoin’s big run-up in December, reports about cryptocurrency mining operation crackdowns were “expanding.” State-subsidized electricity in Venezuela is extremely cheap and in low-income areas, it’s almost free.<\/p>\n Various reports throughout 2017 and the following year revealed agents from the socialist regime were extorting miners.<\/p>\n Reports detailed that secret agents demanded $1,000 per machine from two brothers in Caracas. Moreover, the brothers paid the agents in order to keep the mining operations alive.<\/p>\n By the spring of 2018, the Venezuelan government reportedly banned bitcoin mining rig imports and continued law enforcement crackdowns on small mining operations.<\/p>\n Ildemaro Villarroel’s latest order might be a warning to operators by the public houses of the Gran Misión Vivienda project. A followup warning to the recent crackdown and possible seizures in the future.<\/p>\n What do you think about Venezuela banning bitcoin mining operations in the public housing sector? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n The post Venezuela Bans Bitcoin Mining Operations in the Country’s Public Housing Sector<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n\n
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