Only 2 Mln Bitcoin Left To Be Mined, Here Is What Happens When It Runs Out Of Supply.
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Kyrgyzstan Bans Crypto Mining - Energy Crisis On Hike.
2021-04-28 | Selina Mathew
“Consumption of electricity due to cryptocurrency mining has increased and this has led to an energy crisis,” Akmatov added, explaining: “The som is depreciating due to the increase within the dollar rate of exchange, and Kyrgyzstan is an import-dependent country and tariffs also depend upon it.”Kyrgyzstan President Sadyr Japarov recently proposed raising household tariffs for electricity as to how to deal with the continued energy shortage. Japarov added that the native power firms are 129 Bln soms [$1.5 Bln] in debt, and he claimed that the country’s core power infrastructure has been outdated for years due to corruption among top state officials. Kyrgyzstan has sought to manage cryptocurrency mining activities within the country but is yet to adopt any concrete regulations. Other countries have also blamed Bitcoin [BTC] mining for the energy shortages. Abkhazia has experienced an electricity crunch reportedly due to the 625 cryptocurrency mining farms that decision the small autonomous region home.
