In a Venezuelan Prison Bust, Police Seized Bitcoin Mining Machines

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Last Updated on September 23, 2023 by Bitfinsider

According to an official government announcement, 11,000 troops were utilised to attack the Tocorón prison in Aragua state on Wednesday in an operation to smash the South American country’s most powerful organised crime organisation.

Twitter videos showed a building packed of the machines.

The prison, which had been managed by criminals for years, contained amenities such as a swimming pool and a little zoo. Prisons in Venezuela are notoriously overcrowded and dangerous.

The operation on Wednesday was the first time Venezuelan officials targeted the notorious Tren de Aragua, which is involved in everything from narcotics and human trafficking to extortion in Venezuela and elsewhere in the region.

Mining machines are used to create new currencies and secure the Bitcoin blockchain.

Those involved in the energy-intensive process must consume a large amount of electricity, but they are rewarded with fresh money, and the venture can be highly profitable. According to a Coin Metrics analysis from earlier this year, Bitcoin miners made $184 million in transaction fees from April to June.

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