Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running

2021-11-25 14:01

As per Nikkei Asia, Kazakhstan’s president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining in a bid to support the profitable crypto mining activities in the nation 

“Looking into the future, we will have to make an unpopular decision about the construction of a nuclear power plant,” said Tokayev in a bankers meeting held in Almaty last Friday.

Tokayev first discussed the idea of building a nuclear power plant with Russia’s President Vladimir Putin in April 2019. However, the idea could not be acknowledged following the heavy criticism that it received back then. 

The critics were quick to respond, referring to the nuclear plant idea as an “ecological disaster” in the making. Despite growing unease among Kazakh’s citizens, President Tokayev is keen on pursuing the idea and have addressed the apprehension of citizens regarding constructing a nuclear plant as “inappropriate” 

Kazakhstan’s looming power crisis

Kazakhstan boasts low-cost electricity prices that have transformed the country into a popular crypto mining spot. When China imposed a heavy crackdown on Bitcoin mining activities in its country, a large group of ousted miners took refuge in Kazakhstan, where they could mine crypto without excessive government intervention and could make use of its easily accessible and cheap electricity to mine Bitcoin. 

To fuel the growing demand for Bitcoin mining, the country’s energy supply had to double over to accommodate such a large influx of crypto miners.  

According to Cambridge Bitcoin Electricity Consumption Index’s IP data, Kazakhstan controls approximately 35% of Bitcoin mining power, which is second to that of the United States. 

Due to this sudden increase in crypto mining activities in Kazakhstan, the nation is now facing a heavy power crisis where its citizens are now experiencing frequent power outbreaks. 

The post Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) на Currencies.ru

$ 1.9622 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.9622 - H: $1.9622
Капитализация $205.406k Rank 99999
Доступно / Всего 104.68k SMS

mining nuclear bitcoin kazakhstan power plant tokayev

mining nuclear → Результатов: 45


Bitcoin mining farm in China allegedly burns down as coin records minor fall in hash rate

Adding to China’s list of crypto-disasters this year, a local mining farm has allegedly caught fire for reasons that are yet to revealed. The disaster that befell the Innosilicon-powered data center’s was first reported on Twitter by @OGBTC, who tweeted, “The big datacenter from Innosilicon just went nuclear $BTC“ The above image was posted as […] The post Bitcoin mining farm in China allegedly burns down as coin records minor fall in hash rate appeared first on AMBCrypto.

2019-10-1 08:41


Фото:

How Bitcoin Mining Can Help Nuclear Reactors

Generating electricity closer to full capacity and at a constant rate is the most economical, technically simple and safe mode of operation at nuclear power plants, according to NEA. Bitcoin mining can help by utilizing the excess energy reactors can generate outside peak seasons and hours of consumption, reducing the stress from powering up and […] The post How Bitcoin Mining Can Help Nuclear Reactors appeared first on Bitcoin News.

2018-10-17 03:20


Фото:

Entrepreneur Acquires Two UK Power Plants To Create Power For Mining

According to The Statesman, an Indian ex-pat by the name Varun Datta has acquired two UK based power plants to bolster the operations of blockchain energy firm, 4NEW. The plans in question, are not traditional coal power plants, nor are they of the nuclear persuasion, instead, Datta has managed to secure two ‘waste to energy’ power plans, which use Anerobic Digestion Technology to convert household waste into electricity.

2018-6-16 15:00