Electricity

Due to the growing volume of cryptocurrency mining, Kazakhstan could suffer from energy shortages for its citizens. To counter this, the country's energy ministry has set consumption limits for miners.

Mining cryptocurrencies consumes a lot of energy. For this reason, some governments set special prices for miners. This trend seems to be particularly strong in the Eastern European region.

Kyrgyzstan has increased electricity fees for cryptocurrency mining farms. This is the country's attempt to alleviate the energy crisis allegedly caused by the miners' high consumption.

Ukrainian police have uncovered an illegal mining farm in the city of Kryvyi Rih. The farm was operated by a 32-year-old citizen in an ordinary flat. The operator is currently under arrest while the amount of damage is being investigated.

Governments are continuously recognizing cryptocurrency activities, including mining, through liberal legislation. Until recently, the surplus power was wasted. But some countries now want to use it for mining digital currencies.

Energy consumption in mining cryptocurrencies is a problem for most countries in the world. Countries are looking for energy efficient ways to produce cryptocurrency. However, some of them are doing the opposite and cracking down on miners of digital currencies.

As the saying goes "one man's trash is another man's treasure", China has kicked out 90% of Bitcoin miners, but the rest of the world seems to be benefiting from the move. Kazakhstan is now reaping the benefits of crypto miners fleeing China, while Beijing continues to lose revenue and vital technology.

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Although China has cracked down on cryptocurrencies in recent years, it remains the largest bitcoin mining country in the world, with more than 65% of the total hashrate.