Venezuela State-Licensed Crypto Mining Requirements: What You Must Know in 2025

18 December 2025

If you're thinking about mining cryptocurrency in Venezuela, you need to understand one thing upfront: you don't get to choose how you mine. The government doesn't just regulate mining-it owns the process. Since 2020, Venezuela has forced every miner, big or small, into a single government-controlled system called the National Digital Mining Pool. If you mine outside it, your equipment gets seized. Your profits? Frozen. Your legal status? Gone.

The Only Legal Path: SUNACRIP and the National Digital Mining Pool

To mine legally in Venezuela today, you must be licensed by SUNACRIP-the National Superintendency of Crypto Assets and Related Activities. This agency, created in 2018 and restructured in March 2024 after a major corruption scandal, holds total control over who can mine, what equipment you use, and where your earnings go.

You can't just plug in a rig and start mining. You must first register your business with Venezuelan commercial authorities. Then, you apply to SUNACRIP with detailed documentation: technical specs of your mining hardware, energy consumption estimates, financial projections, and proof of legal business status. The process takes 3 to 6 months just to get approved.

Once approved, you’re forced into the National Digital Mining Pool. This isn’t a suggestion. It’s a legal requirement. Every hash rate you produce, every Bitcoin or Ethereum you mine, flows into this government-run system. Your mining rewards are pooled together, and the government decides how much you get paid-and when.

There’s no choice. No alternative. No private pool. No independent mining. If you try to bypass it, you risk fines, equipment confiscation, or even criminal charges.

What You Must Keep for 10 Years

Venezuela doesn’t just want your mining output-they want every single record of it. For ten years.

Every miner licensed under SUNACRIP must maintain complete, detailed logs of:

• Every mining device used (make, model, serial number)
• Power consumption per device, per day
• Hash rate output and uptime
• All cryptocurrency received and distributed
• Bank transfers, payments received, and wallet addresses linked to mining
• Equipment imports, customs documents, and import licenses

This isn’t just for audits. It’s a permanent digital trail the state can access at any time. Small operators say it’s overwhelming. One miner in Maracaibo told a local forum he spends 20 hours a week just updating spreadsheets. He’s not a company-he’s a single person with five rigs.

The 10-year retention rule applies even if you shut down. If you stop mining, you still have to keep those records. And if you sell your equipment? You must transfer the records to the new owner. Failure to comply means losing your license-and possibly facing penalties.

Taxes: 20% on Everything, Except When They’re Not

Venezuela doesn’t have a single crypto tax law. Instead, it layers taxes on top of existing rules-and they’re heavy.

• IGTF (Large Financial Transactions Tax): Up to 20% on any crypto transaction not paid in bolivars or the Petro. This applies when you sell your mined coins or convert them to cash.
• ISLR (Income Tax): Your mining profits are treated as income. If you earn $10,000 in Bitcoin and sell it, you owe income tax on that amount.
• VAT (16%): Applied to exchange fees, not the crypto itself. But if you use a local exchange, you’ll pay it.

SENIAT, Venezuela’s tax agency, is ramping up enforcement in 2025. They’re now using blockchain analysis tools and KYC data from exchanges to track unreported mining income. If you’ve been mining without reporting, they know. And they’re coming for you.

The Petro, Venezuela’s state-backed cryptocurrency, was supposed to be the solution. But it’s largely worthless. No one uses it. So if you mine Bitcoin or Ethereum, you’re still taxed in dollars or bolivars-and the exchange rate is chaotic.

Equipment Import: A Bureaucratic Nightmare

You can’t just order a rig from Amazon and have it shipped to Caracas. Every piece of mining hardware-ASICs, GPUs, power supplies, cooling units-must be imported under a special SUNACRIP license.

The process:

1. Apply for an import permit through SUNACRIP
2. Submit detailed specs for each device
3. Pay arbitrary fees (no published rates)
4. Wait 2-4 months for customs clearance
5. Face random inspections and demands for additional paperwork

Many miners report their shipments stuck in port for over six months. Some say officials demand bribes just to release equipment. Others say their gear was seized because the model wasn’t on an approved list.

There’s no public list of approved mining hardware. So you’re guessing. And if you get it wrong? Your entire operation is at risk.

The Reality: Payments Get Frozen, No One Explains Why

The biggest complaint from miners isn’t the taxes. It’s the silence.

You mine. You contribute to the National Digital Mining Pool. You expect payment. But weeks turn into months. No updates. No emails. No calls.

Reddit threads and local crypto groups are full of stories like this:

> “I mined for 7 months. My share was $1,800. They froze it in March. No reason. No deadline. Just… nothing.”

The government doesn’t have to explain why they delay or freeze payments. They can do it anytime. There’s no appeal process. No ombudsman. No transparency.

This isn’t a glitch. It’s by design. The state controls the money. And they use that control as leverage.

Why This System Exists

Venezuela’s economy collapsed. Hyperinflation hit 1 million percent. People turned to crypto to survive. The government saw an opportunity.

Instead of letting citizens use crypto freely, they decided to take control of it. The National Digital Mining Pool lets them:

• Extract revenue directly from mining profits
• Monitor every transaction
• Block payments to dissidents or critics
• Use crypto earnings to fund state operations

It’s not about innovation. It’s about power.

International experts call it the most authoritarian crypto system on Earth. It violates the core idea of cryptocurrency: decentralization. You’re not owning your money. The state does.

Is It Worth It?

Some miners say yes. They’ve managed to get paid. They’ve kept their equipment. They’ve avoided jail.

But the cost is high:

• Loss of financial freedom
• Constant fear of sudden policy changes
• Administrative burden that eats into profits
• Unreliable electricity and infrastructure
• Political risk-SUNACRIP was shut down in 2023. It could happen again.

If you’re a small miner with a few rigs, the paperwork and delays make it barely worth it. If you’re a company with capital and lawyers, you might survive. But you’re still at the mercy of a government that changes rules without warning.

What’s Next in 2025?

SUNACRIP claims it’s back. The March 2024 reorganization introduced CAVEMCRIP-a private sector advisory group meant to bring in practical input. But there’s no proof it’s changed anything.

SENIAT is getting better at tracking crypto. Expect more audits. More fines. More frozen accounts.

The political situation is unstable. After the July 2024 elections, protests spread. The U.S. has placed bounties on top officials. Sanctions are tightening.

If you’re thinking about mining in Venezuela in 2025, ask yourself: Are you mining for profit-or just hoping the system doesn’t collapse before you get paid?

There’s no guarantee. No safety net. No backup plan. Just a government that owns your hash rate-and your future.