Venezuela Tightens Crypto Mining Restrictions Amid Energy Crisis

The Venezuelan government has reissued a nationwide ban on cryptocurrency mining as part of efforts to mitigate the ongoing energy crisis.

According to reports, the country's national power system has experienced a surge in peak demand, reaching 15,579 megawatts - a nine-year high. This increase is attributed to prolonged heatwaves and rapid economic growth.

The government has reiterated that 'digital mining is absolutely prohibited nationwide,' and authorities have implemented measures to monitor compliance with the ban.