Fun

Venezuelan State Electricity Company Reportedly Cuts Power To Crypto Miners

News Feed - 2020-11-12 08:11:15

Venezuelan State Electricity Company Reportedly Cuts Power To Crypto Miners


Reports say the Venezuelan state electricity company Corpoelec is disconnecting bitcoin mining farms in Carabobo state on orders from authorities. The power disconnections come amid reports that government and Corpoelec officials are planning to meet mining farm operators.


According to one report that quotes an anonymous source, the objective of this meeting is to discuss the process of connecting miners to the National Electric System (SEN) as well as “the rate to be paid.”


Furthermore, the report quotes the anonymous source saying Corpoelec officials “were shutting down and disconnecting the mines in Carabobo.” The source suggests that all miners in Carabobo had been disconnected.


However, it is not clear if Corpoelec officials are only targeting bitcoin mining operators that do not have authorisation from the government. In September, Venezuela announced the creation of a national cryptocurrency mining pool and decreed that all crypto mining farms be registered.


According to the decree which took effect after September 21, all miners operating outside the pool would be subjected “to the measures, infractions, and sanctions as set forth in the decree document.”


Can Venezuela succeed in forcing miners to join national mining pool? Share your views in the comments section. A New Bitcoin Mining Pool Claims It Has Tools to Censor Blockchain Transactions MINING | 8 hours ago Erratic Processing Power: Bitcoin"s Hashrate Gains 45% in a Day, Then Loses 41 Exahash MINING | 2 days ago Tags in this story Bitcoin mining, Bitcoin Venezuela, Corpoelec, Cryptocurrency, Electricity, Electricity costs, mining pool, National Electric System


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Show comments

News Feed

Binance-Backed BNB Smart Chain Paused Over Potential Multi-Million Dollar Exploit, Token Slides 4%
Binance-Backed BNB Smart Chain Paused Over Potential Multi-Million Dollar Exploit, Token Slides 4% On Thursday, 6:19 p.m. (ET), the official Twitter account for the Bnb Smart Chain
Robert Kiyosaki Predicts End of US Dollar — Says War Giving Rise to Crypto as Safer Haven Than Fiat Money
Robert Kiyosaki Predicts End of US Dollar — Says War Giving Rise to Crypto as Safer Haven Than Fiat Money The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiy
Auditchain Announces Mainnet Deployment of its Staking Contracts for its Pacioli Validating Nodes
Auditchain Announces Mainnet Deployment of its Staking Contracts for its Pacioli Validating Nodes press release PRESS RELEASE. Auditchain will deploy its Pacioli validating node sta
Crypto Patent Alliance Questions Craig Wright’s White Paper Copyright Claim
Crypto Patent Alliance Questions Craig Wright"s White Paper Copyright Claim Back in January, the notorious Craig Wright who claims to be Satoshi Nakamoto had his
‘Bitcoin’s No Longer Optional’ — What Investors Say About Paypal Launching Crypto Services
"Bitcoin"s No Longer Optional" — What Investors Say About Paypal Launching Crypto Services Paypal launching cryptocurrency services has given crypto investors
Zimbabwean Central Bank Launches CBDC Consumer Survey
Zimbabwean Central Bank Launches CBDC Consumer Survey The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit
EtherMail Offers a Lifeline to Web3 Projects Stranded by MailChimp
EtherMail Offers a Lifeline to Web3 Projects Stranded by MailChimp press release PRESS RELEASE.MailChimp’s recent decision to suspend newsletter services for crypto businesse
PayPal proposes ‘cryptoeconomic’ rewards for sustainable Bitcoin miners
Martin Young5 hours agoPayPal proposes ‘cryptoeconomic’ rewards for sustainable Bitcoin minersPayPal’s Blockchain Research Group wants to designate “green miners” and reward them accordingly with additional Bit
Derek Andersen5 hours agoCiti Token Services will provide payments, liquidity to institutional customersThe new blockchain-based service will use tokenized deposits for trading and liquidity services after two pilots.927
India Highlights Need for ‘Common Approach to Regulating Crypto Ecosystem’
India Highlights Need for "Common Approach to Regulating Crypto Ecosystem" India’s Finance Ministry has highlighted the necessity for “a common approach to regulating t
China Launches Digital Yuan ‘Hard Wallet’ Card Pilot Program
China Launches Digital Yuan "Hard Wallet" Card Pilot Program The People’s Bank of China (PBoC) have green lighteda physical card-wallet pilot to test its d
XRP Frenzy Builds: Over $1 Billion in Open Interest Signals Breakout Tension
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu