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Venezuelan Bitcoin Miners Finally Reconnected to the Power Grid

Babafemi Adebajo
Babafemi Adebajohttps://www.definitionsbyadebajo.com

Femi is a freelance content writer with adequate experience creating content for online and offline media across different niches including technology. When he is not writing, you can find him trying out new technology or reading.

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Bitcoin miners in the Carabobo state that were previously disconnected for unknown reasons have now been reconnected to the power by Venezuelan authorities. Following the mediation between the affected miners and the regional power utility authorities, which was done by Sunacrip, the cryptocurrency watchdog in the country, the power authorities have now bowed to pressure and reconnected the miners who were disconnected just a week ago. 

Venezuelan authorities reconnect affected Bitcoin miners to power grid

Last week, a group of bitcoin miners was abruptly cut off from the national power grid without as much as an official explanation as to why they were disconnected. However, the affected miners have now been reconnected back to the grid in an operation that happened yesterday.

The saga began last week when Corpoelec, the national power company, disconnected all officially registered miners within Carabobo state in a very questionable manner. Affected miners immediately swung into action and met with Asonacrip, a private nonprofit organization that promotes cryptocurrency in the country, and arranged another meeting with Sunacrip. After meeting with the head of Sunacrip, Joselit Ramirez, the miners were promised they would be operational within a 48-hour period.

The move saw Sunacrip move in to mediate between the two parties (affected miners and the regional authority). Now, Venezuelan authorities executed a reconnection operation yesterday for the group of affected bitcoin miners. However, Corpoelec, the national power company has offered no official explanation.

Licensed mining is the best

How the meetings with Sunacrip happened and then the subsequent reconnection of power to this group of miners only happened because of the fact that all the affected miners were duly registered and were acting under the license of Sunacrip and well within the stipulations of national laws. However, many unlicensed mining operations are still exist and would be less resilient to that kind of situation.

To date, the Venezuelan authorities have seized countless numbers of cryptocurrency mining machines all over the country for lacking permits. 

The occurrence of questionable actions against miners has also reduced to a great extent ever since Sunacrip established that security authorities could only visit cryptocurrency farms with the presence of one of its officers.





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