Seeking Alpha
2021-10-22 14:23:23

Kazakhstan sets national limit for energy cryptocurrency mining can use

Kazakhstan's Ministry of Energy, seeking to avoid power outages, tells the country's electric grid operator to limit digital mining operations to 1 MW capacity for a period of two years. "At the same time, the total power for electrical installations of consumers engaged in digital mining activities should not exceed 100 (one hundred) megawatts in the Republic of Kazakhstan," the ministry said in a document posted on its website. The country now stands as the second-biggest producer of bitcoin (BTC-USD) accounting for ~18% of the global hash rate, only trailing the U.S., according to Cambridge Centre for Alternative Finance, after China cracked down on crypto mining earlier this year. Earlier this month, BIT Mining (BTCM -3.5%) reported boosting its investment in its Ohio crypto mining center and said it would limit power capacity at its Kazakhstan crypto mining data center to 40MW, still far above the the ministry's new limit. In

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.