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Miners hit by the energy crisis

It became known that cryptocurrency miners in Kazakhstan are faced with a shortage of electricity. At the same time, miners from China are pulling into the country, which at the beginning of this year introduced many bans on cryptocurrency.

According to the Financial Times, the demand for electricity in Kazakhstan has grown by about eight percent since the beginning of 2021. That’s a lot considering the average annual growth rate of 1-2 percent. At the same time, according to experts, more than 87,849 “energy-intensive” mining farms have moved from China to Kazakhstan. Now the country ranks second – right after the United States – in terms of popularity for mining.

Last month, three of Kazakhstan’s most important coal-fired power plants were shut down. To mitigate the consequences of power outages in Kazakhstan, they decided to ration electricity to 50 state-registered cryptominers. However, there are also unregistered cryptocurrency miners in the country.

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