Last weekend, Venezuela opened a new museum dedicated to the history of Bitcoin mining. The agency will let visitors understand the history of cryptocurrency mining, from its roots to the current state of the mining industry. The museum is part of a private project initiated by Criptoavila, a company specializing in the mining industry.

Bitcoin Mining History Museum debuts in Venezuela

Last weekend, a newly created Bitcoin Mining History Museum opened to the public in Venezuela. The new initiative promoted by Criptoavila is a private company whose members have nine years of experience in the mining industry, aiming to introduce people to the world of Bitcoin mining. The museum is located in Caracas and will be open to all audiences with free entry.

According to Criptonoticias, this exhibition will show the evolution of Bitcoin mining through the graphics processing unit (GPU) mining stage since the origin of the central processing unit (CPU). Then it finally reaches the age of application-specific integrated circuit (ASIC) or integrated circuit (IC) mining that the industry is currently experiencing. As Joan Telo, a member of Criptoavila, said, one of the museum’s goals is to raise the general population’s awareness of Bitcoin mining. He emphasized:

We decided to take this step because, until now, it has not been, or at least not publicly available, where people can observe evolution, which we think is necessary.

Telo also stated that they will add new equipment to keep up with the latest trends in mining. He declared:

Our idea is to add equipment to the museum when we get it, because we want to be a world reference for the evolution of cryptocurrency mining.

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Bitcoin mining has a dark background in the country

Although the Venezuelan government has now recognized and legalized Bitcoin mining in the country, this is not always the case. The country’s miners often operate underground, and there are horror stories about the authorities abusing miners, arresting them and confiscating their mining equipment.

Now the times have changed, miners only need to obtain registration and permission from the national cryptocurrency regulator (Sunacrip) to operate. But due to fear and a general lack of knowledge, some people are still operating without these permits, which makes them vulnerable to government confiscation of equipment and fines. For example, due to lack of permits, 400 mining machines were just seized in two operations in June.

According to data from the University of Cambridge, Venezuela is 0.42% of the top ten countries that provide computing power for the Bitcoin (BTC) network in the world as of April last year.

What do you think of the first Bitcoin mining museum in Venezuela? Tell us in the comments section below.

Tags in this story

ASIC, Bitcoin mining, BTC mining, CPU, criptoavila, cryptocurrency, GPU, IC Units, joan telo, museum, Sunacrip, Venezuela

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