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Crypto Boom Strains Kazakhstan's Coal-powered Energy Grid - Cna

by channelnewsasia.com posted 2weeks ago 18 views
ALMATY : Kazakhstan is struggling to meet the energy needs of its booming cryptocurrency mining industry, which is flourishing thanks to cheap power and an exodus of crypto miners from neighbouring China. The Central Asian nation of 19 million has become the world's second-biggest bitcoin mining location after the United States in recent months, according to the Cambridge Centre for Alternative Finance. Now the government is trying to decide how to tax and regulate the largely underground and foreign-owned industry, which has forced the former Soviet republic to import power and ration domestic supplies.

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