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Crypto miners resume work in Kazakhstan

Kazakhstan Materials 20 May 2022 14:40 (UTC +04:00)
Crypto miners resume work in Kazakhstan
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, May 20. Crypto miners have been allowed to resume work in Kazakhstan, Kazakh Energy Minister Bolat Aqchulaqov said, Trend reports citing Kazakh media.

At the same time, the conditions for the consumption of electricity by mining farms are still being considered by the Energy Ministry and in case of a shortage of electricity, they can be disconnected from the power supply again, the minister said.

"Mining, like any other business, has the right to operate. When the electricity shortage occurred a decision to cut off crypto mining farms was made. This was due to the choice between continuing to supply electricity to vital enterprises, the population and miners. Thus, we cut off from the miners," he said.

Aqchulaqov stressed that until the power generation infrastructure in the country is modernized, the ministry is considering various options for the working conditions of crypto miners.

It is proposed to transfer them to the consumption of expensive imported electricity, or to electricity from renewable energy sources, which also costs more. There is also an option to connect miners to stations that generate electricity from natural gas, then mining farms will pay the real cost for natural gas.

"If a situation arises when the energy system begins to experience a shortage, we always have the right to cut off the miners again," Aqchulaqov added.

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