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Seized Mining Rigs in Venezuela Run by Government?

Corruption-ridden Venezuela has continued to suffer after trying to maneuver and revamp its current economic situation. Government agencies have begun seizing mining rigs in Venezuela.

Corruption is apparently the reason for seized mining rigs in Venezuela. Miners in the country are being hunted, extorted and arrested by Venezuelan police who carry out the operations for personal benefits. Juan Blanco, a Venezuelan Bitcoin miner, also backed the claims that miners are being intimidated by police officers.

Also, Randy Brito, the founder of in a podcast, revealed that certain stakeholders in the country were taking charge and operating seized mining rigs in Venezuela for themselves. He said that certain political office holder has come out on social media to say they mine bitcoin. Brito said they say it in public without fear as the mining rigs they mine from were seized from citizens.

Corruption, primary reason behind seized mining rigs in Venezuela

The South American country, as reported by several media, is being ravaged by corruption in all sectors. The menace has led to a shortage of food, drugs, human right violation, and inflation. The situation has been traced back to during the administration of Nicolas Maduro’s predecessor, Hugo Chavez. Read More...