Kazakhstan looks to nuclear solution

the exodus of Bitcoin Miners From China To Kazakhstan Contributed To An Energy Crisis die the president of the Central Asian country has proposed to solve with nuclear energy.

Ministry of Kazakhstan of energy has attributed to the 8% increase in household electricity consumption to Bitcoin miners during 2021. The country received at least 87,849 Bitcoin mining machines of 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 shortage in the domestic power provide and contribute to unreliable electricity services, according to to the Kazakhstan Electricity Grid Operating Company. President Tokayev told bankers on a Nov. 19 meeting that he thinks building a nuclear power plant will help relieve the stress on his country’s electrical infrastructure:

“To look in the future, we will have to make an unpopular decision over the construction of a nuclear power plant.”

While Tokayev did not connect the proposal met Bitcoin mining power use, not there in succeed to keep miners in the country would in to endanger estimated $1.58 billion in tax income die representing miners. have power shortages already Bitcoin mining marketplace forced Xive to leave Kazakhstan. Didar Bekbau, co-founder of Xive, said in on November 25 tweet that he had to shut down his company’s mining farm because of “limited electricity supply from the net.”

Kazakhstan is now home up to 50 registered crypto mining companies and a unknown number of unregistered.

Related: ‘We are the number two cryptominer’ in the world, and we see practically no financial yield,’ says President Tokayev. from Kazakhstan

The decision until build new nuclear power planting is serious one in a country that suffered from severe nuclear precipitation of weapons testing during the Soviet occupation. Kazakhstan last nuclear power plant Closed in 1999.

As regards 88% of Kazakhstan power currently comes from burning fossil fuels power plants.