Kazakh Crypto Miners Have No Access to Electricity

Kazakh Crypto Miners

Kazakh crypto miners are no longer necessarily welcome and the authorities have decided to cut off their electricity due to the potential energy crisis in the country.

In fact, the Central Asian region is currently shaken by an energy crisis that is spreading to several countries, including Kyrgyzstan and Uzbekistan.

Kazakh crypto miners and the general situation

In a recent report released by Bloomberg, he explained that authorities in Kazakhstan have blocked electricity to prevent cryptocurrency miners from engaging in this energy-consuming activity.

The information was confirmed by a business expert who said that the closure will take place until January 31, 2022.

Currently, Kazakhstan is the world’s second largest producer of bitcoins (BTC). This is due to the massive crackdown on cryptocurrency miners in other countries, such as China. That said, since the country opened its doors to miners, the business situation seems to be slowly deteriorating.

Power outages in Central Asia

Last Tuesday, the power outages were very evident. In addition to their duration, they were very worrying. They affected several countries, such as Uzbekistan, Kyrgyzstan and parts of Kazakhstan.

According to the Kazakh state power grid company, KEGOC, the power outages were caused by an “imbalance in the emergency system” in  the power grid throughout Central Asia.

This system connects Uzbekistan and Kyrgyzstan. This is precisely what caused a power surge on the transmission line in Kazakhstan, leading to grid outages . However, it should be noted that the situation has returned to normal.

Several Central Asian countries are facing a wave of power outages due to the activities of thousands of people engaged in cryptocurrency mining.

In this situation, the Kazakh authorities have decided to cut off electricity to people who carry out this activity, whether legally or not. Indeed, they plan to solve the inconvenience of power cuts.