Local authorities disconnect bitcoin mining equipment in Carabobo, Venezuela

The state electric company of Carabobo, one of Venezuela’s 23 states, has reportedly disconnected bitcoin and cryptocurrency mining equipment across the region. According to an anonymous crypto miner, the state electric company, Corpoelec did this in compliance with “superior orders.” The miner told a local news company that over the weekend Corpoelec had indeed shut down the mines in Carabobo. The informant said in a statement: 

They turned off the mine in Carabobo for everyone, I don’t know of anyone who has it on. 

The individual said that he did not know the extent of the disconnection. Meaning if only the equipment of those who were registered as miners were disconnected, or also of those miners who went unregistered. 

The report said that the unknown informant showed them a statement from the Ministry for Popular Power for Electric Energy (MPPEE) and the Sectoral Vice Presidency for Public Works and Services (VPSOPS), in which the owners of mining farms were summoned to a meeting. 

The meeting was supposed to take place today on 12 November but the news firm learned from the informant that it was called off. Instead, the meeting will now be held on 19 November. So far, local authorities in Carabobo have not yet released an official statement on the matter.

Through the meeting, the electric energy officials aimed to address the rate to be paid and apparently wanted only those invited to attend the meeting. However, the informant called out to the local mining community to convene at the meeting and stated:

If we do not attend en masse we will not have enough strength to demand our rights. I ask, please, that we all accompany each other on this new journey. Only union will allow us to move forward.

Back in September, Venezuela legalized bitcoin mining as part of new regulations. The decree required all entities and individuals interested in legally mining bitcoin and other cryptocurrencies to apply for a license from the National Superintendency of Crypto Assets and Related Activities (Sunacrip).

These new guidelines also sought to monitor licensed Venezuelan miners. The authorities would also supervise both the creation and importation of mining equipment. It further stated that mining farms will be able to operate with the state’s support only after passing SUNACRIP’s inspection.