Kazakhstan Might Face Energy Crisis Because of Cryptocurrency Mining

[Rockalo]

Due to the growing volume of cryptocurrency mining, Kazakhstan could suffer from energy shortages for its citizens. To counter this, the country's energy ministry has set consumption limits for miners.

According to LS local news outlet, a single mining farm consumes about 3.6 million kWt per month, which is equivalent to the power consumption of 24 thousand homes. The problem is that the country does not have that much capacity, so power outages and shortages can occur. To offset the consumption of cryptocurrency mining, Kazakhstan would need to build power plants with a capacity of at least 1,000 KWt. More information please click here

[trofim21]

I think the state will soon raise electricity prices in order to keep everything in its hands, as other countries do where electricity is cheap

[UNIVERSE]

Is that so bad that happened there?
I think what percentage of the increase in Miners is there huh?
I was a little worried if in the near future because of this Permasalaha, Mining became illegal and banned in the country.
But hopefully not.
Moreover, if it is not wrong the government has limited the use of maximum electricity to mining. Maybe this is the best solution now for both.

[robelneo]

I think the state will soon raise electricity prices in order to keep everything in its hands, as other countries do where electricity is cheap

Besides raising the price of electricity they can also ban Cryptocurrency mining, mining should only be for countries with abundance and enough power resources, the ordinary household will suffer from outages and high electricity the government of Kazakhstan must do either of the two.

[UNIVERSE]

Besides raising the price of electricity they can also ban Cryptocurrency mining, mining should only be for countries with abundance and enough power resources, the ordinary household will suffer from outages and high electricity the government of Kazakhstan must do either of the two.

This may be the last decision that they will probably take if the mining is not under control and many people do mining to steal electric for this activity. But, I personally hope this ban for mining will not happen like in China, because this bad news will also influence ethe price of cryptocurrency, especially Bitcoin

[Cleanerbd]

Since Kazakhstan does not have that much electricity capacity, they may refrain from mining. And if they do mining, it will waste a lot of electricity, so they will not be able to make much profit from mining. However, the profit of mining usually depends on many things.

[Alcor]

Of course, Kazakhstan will be forced to regulate the process of mining cryptocurrency. They will either raise the price of electricity for miners, or they will limit their production. Now in Europe, the issue of banning the mining of energy-consuming cryptocurrency with the PoW algorithm is being raised. If such a decision is made there, then the government of Kazakhstan can follow the same path.

[Noverteno]

In any case, the authorities of Kazakhstan are quite loyal to the cryptocurrency and I think that such an attitude towards it will remain. Of course, they will be forced to take certain measures so that the total energy consumption remains within such limits so that the country's energy system does not become unbalanced. Here, miners need to think about using the generation of their own energy through the use of solar panels.