Venezuela Tells Citizens in Gov’t Houses to Stop Mining Crypto

The Venezuelan government is set to ban crypto mining in government-provided housing, per an official announcement.

The announcement was made in a video tweeted by state-owned television station VTV Canal 8.

In the video, Ildemaro Villarroel, the Minister of Housing, stated that the central government had issued an edict banning the installation of equipment that is capable of mining bitcoin (BTC) and other cryptocurrencies in homes provided by the state.

The minister said that the move was being made as part of a campaign to promote the sensible and conservative use of electricity.

He stated,

“The installation of cryptocurrency mining machines has now been prohibited as per the [amended] Great Mission Housing Venezuela housing plan.”

The Great Mission Housing Venezuela housing plan, introduced by the Hugo Chávez administration in 2011, was set up to provide housing for families living in precarious conditions.

Villarroel added that the decision had been taken in conjunction with the Ministry of Electric Energy, and spoke of the “harmful effects” crypto mining has had “on electricity demand and consumption in [state-built] urban developments.”

Cryptocurrency mining is legal in Venezuela, and the country is among the world’s top 10 electricity consumers for crypto mining, per data compiled by the University of Cambridge.

Earlier this month, the Venezuelan army announced the seizure of a truck loaded with 315 unregistered Antminer 9 crypto mining rigs.