Venezuela slaps bitcoin miners with electricity theft charges

Four bitcoin miners in Venezuela got into trouble with authorities who are accusing them of stealing electricity in the city of Charallave.

Federal police arrested three men and one woman on charges of cyber fraud and electricity theft, according to a government website. Douglas Rico, director of the Computer Crime Division of the Scientific, Penal and Criminal Investigations Corps (CICPC), said the four were operating more than 300 Antminer units and selling the bitcoins “on a commercial website.”

These people’s mining operation, according to Rico, is negatively impacting “the consumption and the stability” of the Charallave’s electricity services.

Just how serious an electricity theft charge is in Venezuela? Apparently, it is a serious allegation given that the country has been experiencing frequent blackouts in recent years. Bitcoin mining uses so much electricity, so it is no surprise that federal authorities are concerned about the impact of the activity on a city like Charallave.