Kuwait turns off on crypto miners as nations struggle with darkening

Once one of the cheapest nations to fashion bitcoin, Kuwait left the practice, stating growing electricity requirements in the middle of the escalating energy crisis.

Cripto miners face regulatory pressure due to energy use. On Thursday, 1. May, Kuwait initiated to move At the Cripto mining websites accusing them that the main stress is a national electricity network.

According to the Ministry of Interior, the country began widespread operations aiming to the homes that are engaged in crypto mining. Local media reported that Smak has resulted in investigations Over 60 individuals suspects to engage in mining crypt.

Crypto mining operations “represent illegal exploitation of electricity … and can cause denials that affect housing, commercial and service areas, posing a direct threat to public security,” the Ministry said.

Kuwait Bori with increasing energy consumption

Movement comes as the nation faces repetitive gante, caused by fast population growth and rising temperatures. In May, temperatures range from 32 ° C (90 ° F) at 39 ° C (102 ° F), installing the main stress on the mains. Extensive use of air conditioning is a significant contribution to the overall demand of electricity.

At the same time, Kuwait ranked in the first 20 countries around the world with the cheapest electricity. Toward one reportThe current in Kuwait costs only 2.9 cents per kilowatt-hour, much lower than in most industrialized countries.

Since electricity is one of the most important contributions in evidence that mining work, miners in places like Kuwait, are more competitive than in many other countries. This made it attractive nation For crypto miners come out as one of the cheapest places for my crypt.

Although Crypto mining was not the only factor that contributed to high use of energy, Kuwait was not the only country that ban himself. Earlier, Russia and China, both countries that have cheap energy, forbid the practice. Russia quoted soybeans on the electrical network, while China banned mining Due to its commitment to green transition of energy.