According to reports, the mining farm was operating illegally without permits that the national cryptocurrency watchdog, Sunacrip, requires for these operations.
Authorities seized over a hundred miners that were operating illegally in a clandestine farm located in a residential zone in Miranda, a central state in Venezuela.
Mining cryptocurrencies is a completely legal operation in Venezuela, but it requires a series of permits issued by Sunacrip designed to protect the electrical system from potential strains.
This year, Sunacrip had to require that these visits should always be made in the company of a Sunacrip officer, to avoid possible irregularities in the inspection process.
In August, officers from the national power company cut the power supply to registered Bitcoin miners in strange circumstances in the state of Carabobo.
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The price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top.