US Move Into Venezuela Oil Could be a Long Term Relief for Bitcoin Miners: Analysts

US intervention in Venezuela’s oil sector could change energy costs for Bitcoin miners, according to analysts at crypto exchange Bitfinex. The firm said cheaper power tied to higher crude supply may ease pressure on miners after months of falling margins.

The US began seizing Venezuelan oil tankers in December. Over the weekend, US forces captured President Nicolás Maduro. Washington is now expected to move toward tapping Venezuela’s crude reserves, estimated at 303 billion barrels. 

Chevron remains the only major US oil producer active in the country, but President Donald Trump is urging other firms to enter and restart output.

Energy Supply and Bitcoin Miner Costs

Bitfinex analysts said even limited production from Venezuela could affect energy pricing. They noted that cheaper and more available power would raise mining margins and could support new mining activity, mainly in regions able to lock in long term power contracts.

Bitcoin miners have faced pressure from several angles. Bitcoin has fallen about 25% from its all time high. Mining difficulty has risen, and electricity prices have climbed in many regions. These factors have narrowed profit margins across the sector.

Crude prices moved lower after the US action. The US oil benchmark slipped to around $58 per barrel, down 3% from December highs near $60. For miners whose power costs are tied to oil prices, the move offers limited near term relief.

Venezuela Output Faces Long Delays

Any supply increase will not be quick. Bitfinex said higher Venezuelan output would take years, not months. Progress depends on how the US manages political change and remaining sanctions tied to the country.

Matt Mena, crypto research strategist at 21Shares, said the timeline could stretch much longer. He estimated that restoring Venezuela’s oil industry would require over $100 billion in investment and close to ten years of rebuilding to reach past production levels.

Venezuela once produced around 3.5 million barrels per day in the 1970s, about 7% of global supply. Output has since dropped to roughly 1 million barrels per day, or near 1% of global production.

Bitfinex said crypto prices are unlikely to track energy changes alone. The firm added that Bitcoin and other digital assets will stay more tied to macro risk flows, volatility, and cross market positioning.

But, the analysts cautioned that any major shift will depend on long term oil output growth rather than short term headlines.