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Bitcoin mining power crunch: Kazakhstan looks toward nuclear solution
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The exodus of Bitcoin miners from China into Kazakhstan has contributed to an energy crunch that the central Asian country’s president has proposed solving with nuclear energy.
Kazakhstan’s Ministry of Energy has attributed the 8% increase in domestic electricity consumption throughout 2021 to Bitcoin miners. The country received at least 87,849 Bitcoin mining machines from Chinese companies so far this year following China’s crackdown on crypto mining, according to data from the Financial Times.
The substantial increase in demand has led to a deficit in the domestic power supply and contributed to unreliable electricity services, according to the Kazakhstan Electricity Grid Operating Company. President Tokayev told bankers at a Nov. 19
Read more on cointelegraph.comAbout this in other media
Bitcoin mining is lucrative, but ‘dangerous to be confined to one country’ ambcrypto.com /2 years ago
Chinese Crypto Mining Crackdown Turns Focus to PC Rooms and ‘Home Miners’ cryptonews.com /2 years ago
Report explores discrepancies in different Bitcoin mining companies’ performances ambcrypto.com /2 years ago
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