The Angolan authorities have intensified their crackdown on illegal cryptocurrency mining operations, dismantling 41 clandestine mining sites across the country in the past ten months. This effort, led by the Criminal Investigation Service (SIC), has resulted in the detention of at least 100 individuals, predominantly of Chinese nationality.
Major Seizure in Luanda: A Multi-Million Dollar Operation Disrupted
One of the most significant recent actions took place in Luanda, where SIC uncovered and seized eight shipping containers filled with high-tech cryptocurrency mining equipment. The discovery was made in the Kilamba centrality, with the confiscated equipment valued at nearly $17 million (approximately €15.2 million).
According to SIC spokesperson Manuel Halaiwa, the site spanned a vast 10-hectare area and was owned by a Chinese national who is currently on the run. Authorities seized around 17,000 high-precision "Panda Mining" processors, with older models valued at approximately $1,000 (€895.6) and newer ones at $1,400 (€1,253) each.
A Growing Underground Industry
"Given the scale of mining operations, the seized equipment alone could have established at least eight fully operational cryptocurrency mining centers, similar to the last one we dismantled," Halaiwa stated.
He emphasized that operators of illegal mining centers are now selecting less conspicuous locations to evade detection, temporarily halting their activities before resuming on a larger scale.
Crypto Mining: A Highly Profitable Yet Illegal Business in Angola
Cryptocurrency mining is widely recognized as a lucrative endeavor, with potential monthly earnings from such a center estimated at around $17 million (€15.2 million). Each processor is capable of generating between $35 (€31.3) and $37 (€33.1) per day, highlighting the financial scale of these underground operations.
Why Angola Criminalized Illegal Crypto Mining
The Angolan government implemented a law in April 2024 to criminalize unauthorized cryptocurrency mining. The primary reasons for this decision include protecting the country’s financial and electrical infrastructure from potential threats posed by unregulated mining activities.
Authorities have urged citizens to report any suspicious activities linked to illegal crypto mining, reinforcing their commitment to safeguarding national resources. Since the law's enactment, SIC has dismantled over 41 illegal mining facilities and apprehended more than 100 individuals, including both Chinese nationals and some Angolan accomplices involved in the security and maintenance of these operations.
The Future of Crypto in Angola: Regulation Over Prohibition?
While illegal mining operations are under strict scrutiny, discussions about the future of cryptocurrency in Angola continue. Some experts argue that implementing a regulated framework could help the country harness the economic benefits of blockchain technology while preventing illegal activities.
For now, however, the Angolan authorities remain firm in their stance against unauthorized crypto mining, prioritizing the security of national resources over uncontrolled digital asset production.
Conclusion
Angola’s decisive actions against illegal cryptocurrency mining demonstrate the government's commitment to protecting its economy and infrastructure. With increasing global interest in digital currencies, it remains to be seen how Angola will navigate the balance between regulation and restriction in the future.
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