Venezuelan authorities have seized Bitcoin mining machines during a raid on the notorious Tocoron prison. Bitcoin mining has become popular in Venezuela due to hyperinflation and low electricity costs. However, the profitability of the operation remains unclear as the seized machines were older versions of Bitmain’s Antminers. The country has been facing electricity blackouts, leading to a crackdown on cryptocurrency mining facilities and a temporary ban on mining. The raid also uncovered additional items such as weapons and explosives. This development adds complexity to the ongoing debate around the regulation of cryptocurrency mining in Venezuela.
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