Venezuelan Army Engineers Start Mining Bitcoin

Tim Alper
Last updated: | 1 min read

Venezuelan soldiers are mobilizing. No, this is not the start of World War III – these troops are being put to work mining bitcoin (BTC) in the Nicolás Maduro regime’s latest, and possibly most audacious crypto-themed fundraising effort yet.

Source: A video screenshot, Instagram/ejb_61brig

Per a video posted on Instagram by the 61st Battalion of the 6th Corps of Engineers of the Bolivarian Army, specialist soldiers have turned army buildings into giant mining centers, fitted with ASIC mining rigs, as well as a refurnishing hub, apparently for older or damaged equipment.

The troops appear to have converted a large warehouse into what they have entitled the “Center for the Production of Digital Assets.”

In a news broadcast shared by the ConflictsW Twitter account, a newscaster stated that the center was the first of its kind to be constructed by the army, and is based at a military camp in the Caracas-based Fuerte Tiuna army installation.

Fuerte Tiuna is the Venezuelan army’s center of gravity and also houses the Ministry of Popular Power for Defense.

The news video also shows government officials, including Joselit Ramírez, the head of the Superintendency of Cryptoactives and Related Activities (Sunacrip), being shown around the new center and cutting a blue ribbon to indicate that it is officially open.

The latest development marks quite a turnaround for the Venezuelan armed forces – who appear to have gone from seizing vehicles full of crypto mining rigs to actively using them.

In summer, soldiers at the Guyana toll point in Southern Venezuela seized a truck carrying 315 Antminer 9 devices.
Learn more:
Venezuelan Authorities Clamp Down on Off-The-Books Crypto Pay Vendors
Venezuela Unveils State-run Bitcoin, Litecoin, Dash, and Petro Exchange
Venezuela Expands Scope of its Remittance Platform With Bitcoin & Litecoin
Bitcoin Mining Legalized in Venezuela, Miners Must Join ‘National Pool’