Two Software Engineers Are Detained In Venezuela By Bitcoin Mining Activity.

Several arrests in Venezuela have been made during the past year against bitcoin mining. Leaving this clear that the Venezuelan government does not have a love list for people involved in bitcoin mining. More recently, two software engineers are in custody for bitcoin mining. Once again, these arrests are labeled "electricity theft." Given that how the government subsidizes most of the electricity in the country, these claims are true.

The CICPC arrested two software engineers at a state-owned company based in Lara. Both individuals are charged with computer crime for bitcoin mining while using state-subsidized electricity. In addition, two pieces of mining equipment have been confiscated. This is not the first time this has happened, nor will it be the last.

Based on the information provided by El Impulso, the mining hardware in question consists of Antminer S3 models. These are older generations of bitcoin mining hardware, which consume significant amounts of electricity from the wall. Bitcoin remains unregulated in the country, but the government has repressed mining activities.

There are two types of bitcoin activities that are poorly seen in Venezuela. First is the mining business, which uses electricity provided by the state. Using this precious resource, more blackouts can be produced throughout the country. For a country struggling with financial difficulties, there is no access to electricity for long periods and it is the last thing that everyone needs. This does not necessarily mean that people "steal" electricity, although it can be classified as such.

Second, is the purchase and sale of bitcoin mining equipment. Several people have been arrested for taking part in this activity. Although this is not an illegal act, the government wants nothing to do with bitcoin activities in general. They feel that people sell bitcoin miners as a way to evade capital controls in Venezuela. However, so far, such claims have never been proven.

The CICPC mentions that detainees face charges of electric theft. They also used the company's Internet bandwidth to carry out their mining operations. The use of state assets for bitcoin mining is frowned upon in the country and that situation will not change in the short term!

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