Venezuela considers manufacturing components for cryptocurrency mining

Venezuela is exploring the domestic production of components for digital cryptocurrency mining, specifically for the Petro coin. The Ministry of Basic Industries, Strategic and Socialist Industries, along with the Corporation of Intermediate Industries of Venezuela (Corpivensa), are evaluating the feasibility of manufacturing these parts within the country.

The project intends to utilize national raw materials in the production process. Sergio Requena, president of Corpivensa, stated that this initiative is an "industrial response to the current economic situation." He emphasized the goal of establishing productive networks and cooperation to integrate Venezuelan elements into technological processors.

Requena also highlighted the need for coordinated efforts among state-owned companies. He believes this collaboration will strengthen technology-related projects and improve the conditions for setting up digital mining farms. In parallel, Venezolana de Industria Tecnológica (VIT) and Inspur are developing a prototype called VIT Minero E8000, designed to boost mining power with a modular and compact design.

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We are providing an industrial response to the current economic situation. That's why we seek to establish productive networks and cooperation to incorporate Venezuelan elements into technological processors.