Kazakhstan is facing power shortages due to cryptocurrency mining
India Today
As a result of the Chinese crackdown on cryptocurrency mining, mining firms are forced to move their operations to neighbouring countries like Kazakhstan with relatively inexpensive electricity.
Immense energy consumption in the Central Asian nation of Kazakhstan has been attributed to cryptocurrency mining operations, especially in massive computer farms. Kazakhstan is now experiencing power shortages with cryptocurrency winning partly to blame.
According to reports the local Kazak electrical grid operator Kazakhstan Electricity Grid Operating Company (KEGOC) said that they will start rationing electricity for the country’s 50 registered miners after their usage reportedly involved an emergency shutdown mode at three power plants back in October. To deal with the shortages, Kazakhstan had to import electricity from neighboring Russia at a higher tariff.
