Venezuelan authorities have launched a crackdown on crypto miners in a bid to protect the South American nation’s power grid. In an Instagram post on Friday, the country’s Department of Energy (Spanish acronym: MPPEE) MinersHowever, such operations have come under criticism by lawmakers all over the world for the amount of energy they consume. MPPEE said in its post that the move was being made in a bid to “avoid the high impact on demand” on the grid, and to allow the SEN “to continue offering an efficient and reliable service to all the Venezuelan people.” The post featured a video of authorities raiding what looks like crypto mining operations. Venezuela—which has experienced a devastating economic collapse since 2010—has long suffered problems with its grid. Although the problem isn’t as bad as it was Last September, Venezuelan police Despite this, the country is still keen on using crypto: The state-run oil company, PDVSA, reportedly wants to use digital asset Edited by Andrew Hayward
