Bitcoin mining power crunch: Kazakhstan looks toward nuclear solution

The exodus of Bitcoin miners from China into Kazakhstan has contributed to an energy crunch that the central Asian country’s president has proposed solving with nuclear energy.

Kazakhstan’s Ministry of Energy has attributed the 8% increase in domestic electricity consumption throughout 2021 to Bitcoin miners. The country received at least 87,849 Bitcoin mining machines from Chinese companies so far this year following China’s crackdown on crypto mining, according to data from the Financial Times.

The substantial increase in demand has led to a deficit in the domestic power supply and contributed to unreliable electricity services, according to the Kazakhstan Electricity Grid Operating Company. President Tokayev told bankers at a Nov. 19 meeting that he thinks building a nuclear power plant will help ease the stress on his country’s electrical infrastructure:

“Looking into the future, we will have to make an unpopular decision about the construction of a nuclear power plant.”

While Tokayev did

Keep reading this article on Cointelegraph.com.

Leave a Reply