The supply contract applied to digital mining in Venezuela

Abstract

Together with the evolution of technologies and the publication of the Bitcoin White Paper in 2009, a new form of business was created worldwide, that is called "Digital Mining", which consists in converting energy into money. More specifically, it is the use of equipment with computational capacity that deciphers complex algorithms to verify transactions within the Blockchain and this obtain digital assets. Now, this type of activity of private nature uses for its operation high power electricity, electricity that, in Venezuela, can only be supplied by the State, requiring for the supply of essential services for its development (such as electricity), the execution of a supply contract with National Electric Corporation (CORPOELEC) and compliance with all the requirements demanded by National Superintendence of Cryptoassets and Related Activities (SUNACRIP). That is why through this article we will go depper into the specific characteristics of the supply contract that digital mining companies must sign within the country and how its singularities seem to deform the basic concept of a supply contract.

Contacto de autores

Correos electrónico: Janethmcev@gmail.com  / Luismanuelcaminocontreras@gmail.com