(ANSA) – ROME, NOVEMBER 30 – The manufacturing of cryptocurrencies, notoriously energy-intensive, is sending the Kazakhstan electricity grid into crisis. According to the Financial Times, the national electricity operator Kegoc said it will start rationing the power supply to 50 companies officially registered as ‘miners’, that is, they deal with the minting of cryptocurrencies, after they sent three plants into emergency in October. . Miners will also be the first to be disconnected from the grid in the event of a breakdown and blackout.
According to official government estimates, electricity demand grew by 8% at the national level in 2021, compared to an average (again nationally and on an annual basis) of + 1-2%. In October 2021 alone, blackouts occurred in six regions of the country, which were mostly attributed to illegal miners, who organize mining facilities in their homes or even on farms. The surge in energy consumption seems to be partly due to the ban from neighboring China on any type of cryptocurrency activity.
Although the value of cryptocurrencies is fluctuating, many continue to bet. A few days ago, Japan intends to launch its digital currency by 2022. The plan is to create a cryptocurrency based on the yen and backed by a consortium of about 70 Japanese companies, including the country’s three main banks. (HANDLE).
.
Source From: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
