Venezuelan military begins producing Bitcoin

The "Digital Currency Production Center" built by the 61st Battalion of the 6th Engineer Corps of the Venezuelan Army in Fort Tiuna in the capital Caracas was recently put into use. It is mainly used for Bitcoin production, commonly known as "mining", and is equipped with ASIC mining chips and refurbishment centers, all of which are relatively old and damaged equipment. The commissioning of the Venezuelan Army's military "mine" marks their transition from confiscating civilian mining equipment to actively using them.

This summer, soldiers at a toll booth in Guyana, southern Venezuela, seized a truck containing 315 Antminer 9 mining devices.

According to news reports in 2018: Venezuela, a South American country, may face the worst inflation in history, with the inflation rate soaring to an astonishing 1,000,000%. The Venezuelan government is printing money crazily, and prices have risen 460 times. Ordinary people have to rack their brains to survive. Bitcoin, which will never be issued, has made more and more people become believers of Satoshi Nakamoto.

The Venezuelan military may have joined in on mining because it sees Bitcoin, which is difficult to track, as a way of protecting itself from U.S. financial sanctions.