Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on C...
The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP Project Revived Amid Short Supply of Energy for Crypto Mining Sector in Kazakhstan Authorities in Kazakhstan are now thinking of implementing a decade-old plan to construct a nuclear power plant (NPP) in order to solve the country’s pressing issues with a growing....
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Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees 7% Increase in Electricity Demand Due to Crypto Miners Kazakhstan plans to boost its power generating capacities in the coming years but right now the country is experiencing electricity shortages. In 2021, consumption has surged by 7% in comparison with last year, a government official revealed at a....
Data centers minting cryptocurrencies in Kazakhstan were cut off from the nation’s power grid this week and will remain unplugged for the rest of January. The measure comes as the country faces electricity shortages blamed on crypto mining and blackouts in the cold winter months. Crypto Miners in Kazakhstan Left Without Power Bitcoin mining facilities in Kazakhstan were disconnected from the electricity supply on Monday, Jan. 24, and will remain shut down through Jan. 31, local media revealed. The restrictions have been imposed after the state-run grid operator, KEGOC, issued a....
The country saw a great influx of miners this year, but it might have to sacrifice the immense tax revenue from Bitcoin miners if power grid issues are not resolved. 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....
The government of Kazakhstan has revised the registration requirements for persons and companies involved in crypto mining. The updated regulations come amid an ongoing clampdown on the industry in the Central Asian nation, where the influx of miners has been blamed for persisting electricity shortages. Crypto Miners to File Quarterly Reports With Kazakhstan Authorities An order issued by Kazakhstan’s minister of digital development, Bagdat Musin, has expanded the registration and reporting requirements for those minting digital coins. The document obliges individual entrepreneurs....
State-owned Russian energy giant Inter RAO is now discussing electricity supplies for Kazakhstan where crypto miners have allegedly caused a spike in consumption this year. The country is expecting the power deficit to reach 600 megawatts as demand during the winter increases even further. Kazakhstan Likely to Buy Electricity From Russian Federation to Deal With Shortages Inter RAO, a major electricity producer in Russia, is holding talks on the possible supply of electricity for Kazakhstan starting from November, a high-ranking representative told reporters. Alexandra Panina, a member of....