Kyrgyzstan Cuts Off Power to 45 Crypto Miners for Overconsumption
The move came after 45 crypto mining firms used more power than three regions combined.
Kyrgyzstan has cut off power to 45 crypto mining firms as they consumed more energy than three local regions combined.
Senior energy official Aitmamat Nazarov has warned cryptocurrency mining is not defined under Kyrgyzstan law, local news agency AKIpress reported on Sept. 20.
136 MW of electricity used
According to Nazarov, 45 crypto miners consumed 136 megawatts of electricity, which is more than the amount consumed by three Kyrgyzstan regions: Issyk-Kul, Talas and Naryn.
Cheap energy pricing
Kyrgyzstan has become a popular site for global cryptocurrency mining firms due to cheap energy prices.
In August, the country's Ministry of Economy submitted a draft law in order to introduce cryptocurrency mining taxation — a move designed to boost revenues.