Venezuelan Minister of Habitat & Housing ‘Ildemaro Villarroel’ has announced a ban on crypto mining operations within any state-owned housing or neighborhoods that are a part of the “Gran Misión Vivienda” project [Great Home Mission].
Within an official speech on 15th July, Villaroel added that any type of equipment associated with crypto-currency mining is banned publicly housing due to “high power consumption” and for widely “violating” the government’s electrical supply policy.
The minister added:
“In this coordinated work, we’ve detected the harmful effects of those elements of high electrical demand within the public houses of the Gran Mision Vivienda project.”
Gran Mision Vivienda is a plan by the Venezuelan government to grant housing to citizens with low income amid a long-lasting economical crisis that the country had already been facing prior coronavirus showed up.
Crypto Mining – Harming The Distribution Of Power Supply
Villarroel added that cryptocurrency mining activities could harm the distribution of the power supply in every neighborhood. But critics of the measure, primarily through social media, means that the Venezuela was negligent in improving the local electric supply system. The difficulty went major after a national electrical shutdown in 2019 as a results of the failure of the “Guri” hydroelectric dam.
Recently the Bolivarian National Guard of Puerto Ordaz seized 315 Bitcoin [BTC] mining machines manufactured by Bitmain. The owners of the mining rigs were told that they didn’t possess the required permits to own and operate the machines.