Kazakhstan's president calls for urgent regulation of crypto mining in the middle of electricity shortage-mining Bitcoin messages
Kazakhstan's president calls for urgent regulation of crypto mining in the middle of electricity shortage-mining Bitcoin messages
in view of an electricity deficit that is mainly attributed to cryptocurrency miners, Kazakhstan tries to avoid an energy crisis this winter. The country's president insisted on maintaining the power supply of industry and the population and an urgent legal regulation of expansion required Coin embossing.
President Tokaev calls for a legal regulation of the mining cryptocurrency in Kazakhstan
At a recent meeting with the Kazakh Energy Minister Magzum Mirzagaliev, President Kassym-Jomart Tokayev criticized his department for allowing a severe decline in fuel reserves. The head of state also emphasized the need to ensure an interruption -free power supply for companies and households and to create additional generation capacities.
according to A press release Tokayev informed Mirzagaliew about steps that were taken to compensate for the fuel shortage and presented a forecast for the development of the Kazakh power generation industry by 2035. The electricity consumption should increase annually, and Kazakhstan intends to set renewable sources, natural gas, and hydropower to cover the increasing need.
The Central Asian nation, which maintains low electricity prices, is in the middle of a persistent take part to Bitcoin mining in China. Your energy hungry data center alone were responsible in the first nine months of the year for a 7 percent increase in consumption made, and the authorities claim that a single mining arm needs as much energy as 24,000 households operate.
Minister Mirzagaliev also familiarized Tokayev with the measures that aim to achieve greater control over the cryptocurrency mining sector, especially with regard to illegal coin embossing operations. According to official estimates, these so -called "gray" miners consume up to 1,200 megawatts of electricity. The authorities continue their efforts to identify such institutions across the country.
The president instructed the government to strengthen these efforts with the help of other responsible authorities, according to the message cited by Forklog. Tokayev also commissioned the executive to organize an "urgent legal regulation of mining". At the same time, he emphasized that legal, "white" miners should continue their activities without additional restrictions. In his opinion, Kazakhstan has the resources to ensure an interruption -free power supply to its home market.
Tokayev's comments come after a group of legislators proposed The establishment of a state register for cryptocurrency farms that work in the country last month. The members of the Mazhilis also suggested that the miners pay a higher price for the electricity they consumed.
The capped tariff is one of the main problems in Kazakhstan in neighboring Russia, since the artificially low price limits investments in new infrastructure and generation capacities. The Russian energy giant Inter Rao recently unveiled, Kazakhstan supply to help the country cope with the bottlenecks in the winter months.
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