in

Bitcoin Mining Museum opens with historical exhibit

Key facts:

The site has a model mine for visitors to learn about the activity.

Those interested in cryptocurrency mining will appreciate the evolutionary process of the equipment.

Venezuela will have a Bitcoin Mining Museum (BTC) so that visitors can enjoy the historical evolution of the equipment that has been used for the extraction of the cryptocurrency.

The place will open its doors this Saturday, July 17 with a sampling of the platforms used by miners from the beginning, such as CPUs, through GPUs and FGPAs, until reaching the era of application-specific integrated circuits, better known as ASIC chips.

The initiative was developed by a group of entrepreneurs dedicated, for 9 years, to cryptocurrency mining in Venezuela, who formed the company CriptoAvila.

His museum arises from the need to show the public how teams have evolved that “are part of the history of the ecosystem that is changing the world,” as explained by Joan Yelp, one of the company’s members, who spoke exclusively with CriptoNoticias.

We decided to take this step because, until now, there is no, or at least not publicly, place where people can observe evolution and we felt it was necessary. Each team, each brand and model that we will have on display has a story to tell, either because they have been transcendental in the history of mining or because they represented obstacles. Even within this story there are also scams with equipment that ended up harming many people who tried to mine bitcoin at the time.

Joan Yelp, promoter of the Bitcoin Mining Museum.

The museum is located in the Xerox Tower of Chacao, in Caracas, where all those interested in cryptocurrency mining can attend. There they will be received by the promoters of the company, who they will offer the tour for free.

Also, the place has a model mine that will be used for visitors to learn to build safe electrical installations to connect their own ASICs and all the details related to cryptocurrency mining.

The Venezuelan Bitcoin Mining Museum will be at the facilities of the company CriptoAvila located in Caracas. Source: CriptoAvila.

Among the platforms on display is an ATI 5850 video card, considered one of the graphics card models for Bitcoin mining, as reported by Yelp.

It was one of the best GPUs, but just when they started to be used there was a worldwide stock failure like the one we are experiencing now. It happened precisely because of the capacity of the cards for mining. It was the first time that there was a global inventory failure from bitcoin mining. Now our idea is to add equipment to the museum as we get them because we want to be a world reference on this issue of the evolutionary process of cryptocurrency mining.

Joan Yelp, promoter of the Museum of Bitcoin Mining.

A group of experienced miners decided to showcase the historical evolution of platforms for mining bitcoin. Source: CriptoAvila / Instagram.

Latin America writes the new history of Bitcoin mining

Historically, Bitcoin mining always had its focus of attention in China where more than 60% of the processing power of the network was generated worldwide. However, the recent repression of that country against the extraction of cryptocurrencies, has forced the miners to look for other places to settle. Some have emigrated to Kazakhstan and others to North America, but Latin America seems to be writing a new history in this industry, given that El Salvador and Argentina stand out as countries with potential for Bitcoin mining.

Venezuela, even since last year, has been listed among the 10 countries with the greatest presence in Bitcoin mining. At that time, the Caribbean country registered 0.42% of the total hash rate, although occasionally that figure has been higher. Paraguay also had 0.29%, while countries such as Mexico, the Dominican Republic, Colombia, Argentina and others in Central America and the Caribbean offered figures that together represented more than 0.25%.

US Justice delivers statement to federal agencies

Holders are withdrawing 2,000 BTC daily from exchanges, says Glassnode report