Venezuelan Army Starts Mining Bitcoin for ‘Unblockable Income’
The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment aimed at generating “unblockable income,” as the country attempts to bypass U.S. sanctions. The crypto mining center has the support of the country’s crypto regulator, Sunacrip. Venezuela’s Army Starts Cryptocurrency Mining The Venezuelan Army’s cryptocurrency mining center was inaugurated on Nov. 19 by the 61st Agustín Codazzi Engineer Conditioning Brigade, according to local media. The inauguration was led by Bolivarian Army General Lenin Herrera,....
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The Venezuelan army turns to crypto mining as the country's economy collapses. The regime of Nicolás Maduro continues to lean on crypto to keep economically solvent.Via Instagram, an engineering brigade of the Venezuelan army inaugurated the new "Digital Assets Production Center of the Bolivarian Army of Venezuela." As the video shows, the center houses various ASIC mining equipment used to crack proof-of-work algorithms.General Lenin Herrera presented the new mining operation. The stated goal of the mining operation is "strengthening and self-sustainability of our units of the Bolivarian....
Venezuelan authorities are cracking down on Bitcoin mining facilities and are focused on “weakening” these mining operations within the region. According to reports on January 27, the Organized Crime Bureau of the Bolivarian National Police (BNP) shut down an 11,000 unit Bitcoin mining undertaking. Venezuelan Police Take Down a Large Bitcoin Mining....
The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting inconsistencies in the transport documentation. Rigs Are Presumably ASIC Miners According to a press note published by the GNB, the procedure took place in a checkpoint on the Bolivar state, specifically in the Puente Angostura. An individual transported the bitcoin (BTC) mining equipment on a....
Venezuelan authorities seized over a hundred mining machines in a residential area of a central state. According to reports, the mining farm was operating illegally without permits that the national cryptocurrency watchdog, Sunacrip, requires for these operations. The seizure was led by the national police, officers from the national power company, and....
Venezuelan authorities destroyed a bitcoin mining center in Valencia in Carabobo state, the most recent action taken in an effort to clamp down on bitcoin-related activity in the economically ravaged country, according to criptonoticias, a Venezuelan cryptocurrency website. Venezuelan authorities arrested members of a Poland-based network after locating a shed with 11,000 bitcoins in Los Guayos in an industrial zone, according to the Bolivarian government of Venezuela website. The Bolivarian National Police (PNB) division against capital legitimation detected suspicious shipments entering....