📰 Venezuela has put a full stop to all cryptocurrency mining to protect its power grid. This comes after a recent crackdown that led to the seizure of 2,000 mining devices. The decision aligns Venezuela with other countries that have curbed crypto mining due to its high energy demands. 💡⚡

The Ministry of Electric Power plans to disconnect crypto mining farms from the national grid to regulate energy consumption and ensure a stable power supply. Venezuela’s National Association of Cryptocurrencies confirmed the prohibition, prioritizing energy stability over the crypto-mining industry. 🚫💻

This crackdown follows the confiscation of 2,000 mining devices in Maracay, Aragua state. Officials stress the need for efficient and reliable electrical service by eliminating the strain caused by these high-energy-consuming farms. The measures are crucial for stabilizing Venezuela’s power supply, which has been unreliable for the past decade. 🛠️🔌

The move against cryptocurrency mining is part of a broader anti-corruption campaign. This initiative has led to the arrests of several top officials, including the former head of the National Superintendency of Cryptoassets. The focus remains on maintaining energy stability and improving the reliability of its power infrastructure. 🏛️🔍

In conclusion, Venezuela’s ban on cryptocurrency mining is a significant step to protect its power grid and ensure a stable electricity supply for its citizens. The decision aligns with global efforts to regulate the energy-intensive crypto mining industry. 🌍🔋 #CryptoBan #Venezuela #EnergyConservation