Mining Round-Up: Venezuelan Authorities Raid Miners, Taiwanese Miner Shot for Debt to Investors

In recent mining news, Venezuelan authorities are cracking down on mining operations – with one Venezuelan telling reporters that he was forced to leave his home country after becoming the victim of extortion. In other news, a Taiwanese miner was shot by gangsters after failing to deliver on returns on the gang’s investment into his mining operation, and a state-owned wind farm in Estonia has begun mining cryptocurrency.

Venezuelan Authorities Raid Mining Operations After Instituting Ban

In recent weeks, a Venezuelan man, 'David', revealed to media that was forced to flee his home country after becoming the victim of extortion from authorities. David alleges that late last year, Venezuelan police received a tip that he was mining, leading to his office being raided, and his equipment confiscated – with police demanding a ransom in order for his equipment to be returned. Believing that he had now become a target for further extortion, and fearing for the safety of himself and his loved ones, David, and his family chose to flee and cross the border into Colombia.

Miner Shot by Gangster Investors After Failing to Deliver Promised Returns

The Freshwater Gang has invested approximated $50 million TWD (nearly 1.677 million USD into Mr. Wu's mining operation, and had been expecting quick returns. Mr. Wu was unable to meet the expected initial payment of $10 million TWD (approximately $340,000 USD), citing China's crackdown on cryptocurrency as the reason. Mr. Wu was shot after an argument with the two men. The shooting took place in the Longhua Hall in Banqiao.

Gao Qitang and Chen Yumin surrendered within seven hours of shooting and were taken into custody at the Haishan Police Substation of New Taipei City.

Estonian State-Owned Wind Farm Launches Crypto Mine

The mining hardware, comprising a bank of computers hooked up to the seven turbine, six megawatt wind farm, was set-up by Estonian private limited company Eesti Elekter. Oleg Sonajalg, a board member of Eesti Elekter, stated "It is great that the decentralized money transfer blockchain technology has found its way to our wind farm. Hopefully, it will be a fruitful cooperation.”

"The more synergy between future technologies we find, the more able to compete we will be in the future,” Mr. Sonajalg added.



Need to calculate your bitcoin holdings' Check our tools section.

The post Mining Round-Up: Venezuelan Authorities Raid Miners, Taiwanese Miner Shot for Debt to Investors appeared first on Bitcoin News.

4127


Subscribe cryptonews in Twitter!

Read us in Telegram!

Cryptonews © 2018