Topic: [2021-10-31] Increased Mining Operations in Kazakhstan Causing Power Deficit (Read 78 times)
November 02, 2021, 01:32:15 AM
@leea-1334. If it is not all because of bitcoin mining, what changed in Kazakhstan‘s energy infrastructure? Would the same energy deficits occur without increased demand on energy from bitcoin miners? Also, how much in percentage of total hashrate is coming from Kazakhstan? It is in 2nd place after America, correct?
November 02, 2021, 12:45:46 AM
consumption growth in Kazakhstan is around 7%, noting that for the first time the country is facing a deficit in the cold winter months.
So I missed this one,,, that this is the first time it has happened in the country's history. Only a few years ago as I mentioned all my Kazakh acquaintances talked about surplus so it proves as you say things break easily if not managed well. But I still find it hard to believe it is all due to Bitcoin mining as the headline seems to say,,, because if so, then there seems to be very bad planning and this is bad news even for the mining companies.
November 02, 2021, 12:20:37 AM
I predict another shift on roadmap among proof of work cryptocoins might go towards research, development and a fight for Asic resistance similar to Monero. Bitcoin’s greatest strength also appears will be its greatest weakness. The next storyline for the next bull market will be blockchain privacy and Asic resistance.
November 01, 2021, 06:13:57 AM
Let's hope the people of Kazakhstan won't see bitcoin mining as a bad business consuming more electricity than what's available.
It appears that it has already begun: Crypto Miners Blamed for Power Supply Deficit in Kazakhstan, Government Mulls Restrictionsor really did Bitcoin mining power consumption totally exceeded even their surplus?
And if you Google it,,, even they are supplying power outside now to neighbors because of surplus.
By the look of things, they're going down the same road as Iran did last year [a lot could change quickly if there's a broken system in place]:And if you Google it,,, even they are supplying power outside now to neighbors because of surplus.
- Quote from: https://news.bitcoin.com/russia-considers-selling-power-to-kazakhstan-amid-deficit-caused-by-crypto-miners/Alexandra Panina, a member of the company’s management, explained that consumption growth in Kazakhstan is around 7%, noting that for the first time the country is facing a deficit in the cold winter months.
November 01, 2021, 02:37:29 AM
According to people I met from Kazakhstan however, they always tell me the country is looking for more and more people to do business there or to sell their energy to because they apparently have huge surplus from hydroelectric dams. So reading this surprises me,,, or really did Bitcoin mining power consumption totally exceeded even their surplus?
And if you Google it,,, even they are supplying power outside now to neighbors because of surplus.
And if you Google it,,, even they are supplying power outside now to neighbors because of surplus.
October 31, 2021, 11:24:41 AM
Let's hope the people of Kazakhstan won't see bitcoin mining as a bad business consuming more electricity than what's available. Let the electricity generating companies treat this has a business opportunity which should be inviting an expansion program to find ways to add more power to their national grids which will address the deficit because this was inevitable as the population is still growing and current demand will have to be addressed.
October 31, 2021, 03:54:50 AM
As Chinese miners migrate to Kazakhstan, this poses capacity challenges to the Kazakhstan grid, which could be supplemented by the Kremlin’s state-owned utility Inter RAO in the near future.
Chairman of AB Inter RAO Lietuva board Alexandra Panina has voiced her concern regarding Kazakhstan’s energy deficit. Inter RAO is the state-owned electricity utility in the Russian Federation with which Kazakhstan authorities are in talks to supplement Kazakhstan’s electricity deficits. Kazakhstan has a cap on electricity prices, which has led to aging infrastructure and generation capacity. This, however, has attracted miners to the country, increasing the total consumption to 83 million kWh from January 2021 to September 2021, for which the country was ill-prepared, according to Panini. Panini has further opined that Russian electricity exports should have a higher tariff.
The Central Asian country is home to mining farms run by BIT Mining, Canaan, KazDigital, Xive, amongst other companies. Regions in Kazakhstan that play home to mining operations include Karaganda, Pavlodar, Taraz, and Ekibastuz.
Source and continuation of news: https://beincrypto.com/increased-mining-operations-in-kazakhstan-causing-power-deficit/
Chairman of AB Inter RAO Lietuva board Alexandra Panina has voiced her concern regarding Kazakhstan’s energy deficit. Inter RAO is the state-owned electricity utility in the Russian Federation with which Kazakhstan authorities are in talks to supplement Kazakhstan’s electricity deficits. Kazakhstan has a cap on electricity prices, which has led to aging infrastructure and generation capacity. This, however, has attracted miners to the country, increasing the total consumption to 83 million kWh from January 2021 to September 2021, for which the country was ill-prepared, according to Panini. Panini has further opined that Russian electricity exports should have a higher tariff.
The Central Asian country is home to mining farms run by BIT Mining, Canaan, KazDigital, Xive, amongst other companies. Regions in Kazakhstan that play home to mining operations include Karaganda, Pavlodar, Taraz, and Ekibastuz.
Source and continuation of news: https://beincrypto.com/increased-mining-operations-in-kazakhstan-causing-power-deficit/
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