Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: sirty143 on October 04, 2021, 12:04:46 AM

Title: Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
Post by: sirty143 on October 04, 2021, 12:04:46 AM

(https://i.imgur.com/DJSVUwkm.jpg)

The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. See more for yourself here (https://news.bitcoin.com/kyrgyzstan-raises-electricity-rates-for-cryptocurrency-miners/).

Your opinion is greatly appreciated.

Title: Re: Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
Post by: robelneo on October 28, 2021, 02:47:27 PM

Kyrgyzstan does not offer free or cheap electricity and they have to protect their resources from miners who consume a big electricity consumption here in our country if you have a big consumption you have additional rate this is to protect the small consumers and urge the citizen to conserve electricity.

Title: Re: Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
Post by: Callisto on November 11, 2021, 12:42:17 PM

I'm wondering how they can do it?
Do they raise the electricity tariff for absolutely everyone, or only for miners? If only miners can do it? I think they just covered up with this, just to raise tariffs for the population.

Title: Re: Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
Post by: Prime on November 11, 2021, 11:42:58 PM

It happens because probably the mining activities are rising because of rising price of Bitcoin itself. Where BTC prices in the bullish era, commonly mining will be higher because the results may be worthy, not like in the bearish period.
Btw, I don't know if there are many miners or not. But it may be harmful if this will go on, I am afraid that someday mining will be also banned there