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Influx of crypto miners to Kazakhstan reportedly strains energy supply
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Now responsible for the second biggest contribution to the Bitcoin hashrate, Kazakhstan’s energy grid may be unprepared to handle the addition of many cryptocurrency miners from China and others looking to capitalize on low cost electricity.
In a Nov. 10 report from Reuters, government officials in Kazakhstan estimate that unregistered crypto miners in the country could be consuming twice as much power as those registered to avoid paying taxes and other fees. Together, all crypto miners in the country could be using as much as 1.2 gigawatts, or roughly 8% of Kazakhstan's total power generation capacity.
According to Murat Zhurebekov, Kazakhstan's vice minister of energy, addressing the potential strain on the nation’s power grid “cannot be
Read more on cointelegraph.comAbout this in other media
'We are the number two crypto miner in the world, and we see practically no financial return,' says Kazakhstan President Tokayev cointelegraph.com /2 years ago
Wasabi Lightning Wallet Grant, Binance's New Integration & Funding, Norway Crypto Mining Ban Talk + More News cryptonews.com /2 years ago
Impact of China’s Ban Minimal Again, Crypto Can’t Be Killed cryptonews.com /2 years ago
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