Topic: No Electric Supply to Bitcoin Mining Operations in Laos - page 3. (Read 400 times)
Laos is a small nation that is located in the South Eastern part of Asia. The percentage bitcoin mining compared to the rest of the world is very minimal. Country that is much dependent on hydropower and unable to meet the necessity due to the shortage of water resources and limiting the supply to bitcoin mining operations is not a big issue and this doesn't affect the market.
Laos is a small nation and it follows communism so its government can do many things while their citizens have very power to ask for their rights.
Cambridge Bitcoin Electricity Consumption Index and Bitcoin Mining Map show that Laos is not a big nation in Bitcoin mining. In Bitcoin Mining and Energy Statistics does not have description about Laos in Bitcoin Mining.
It had Bitcoin mining but is small in hashrate and it won't impact the Bitcoin network a lot.
Cambridge Bitcoin Electricity Consumption Index and Bitcoin Mining Map show that Laos is not a big nation in Bitcoin mining. In Bitcoin Mining and Energy Statistics does not have description about Laos in Bitcoin Mining.
It had Bitcoin mining but is small in hashrate and it won't impact the Bitcoin network a lot.
"Lao authorities said that cryptocurrency mining operations have failed to repay mounting debts."
Well, if that's the actual case then we can't blame the government really! Electricity is a commodity which requires money to produce. So if the mining companies are failing to pay their bills, the government has taken the correct course of action.
Crypto mining operations across the world needs to be self-reliant when it comes to electricity. Otherwise it's a huge risk as we are seeing here.
"Lao authorities said that cryptocurrency mining operations have failed to repay mounting debts."
besides the problem of insufficient electricity, they also have unpaid debts until now, maybe this is an excuse for the government to cut off the electricity supply to their business. because a good and profitable company certainly has an electricity generator which they can use to support their business, even though turning it on is expensive but it shouldn't paralyze their business, unless this mining company has complex problems and is on the verge of bankruptcy.
besides the problem of insufficient electricity, they also have unpaid debts until now, maybe this is an excuse for the government to cut off the electricity supply to their business. because a good and profitable company certainly has an electricity generator which they can use to support their business, even though turning it on is expensive but it shouldn't paralyze their business, unless this mining company has complex problems and is on the verge of bankruptcy.
Well if you don't have the water then something has to be done. I would consider mining a sub critical load. Nothing bad is going to happen if they stop mining. Power goes out to hospitals, schools, airport, business and such you have a much bigger problem. They do the same in Texas during extreme events.
EDL has declared a halt in providing power to cryptocurrency mining ventures in Laos. The majority of the country's electricity, sourced from hydropower plants, will no longer be supplied to these operations. In September 2021, the Laotian government granted permission to six companies for cryptocurrency trading and mining.
The Governor of EGAT said that if the drought in Laos becomes severe, hydropower plants in Laos will generate less electricity, reducing export capacity.
https://en.vietnamplus.vn/laos-stops-power-supply-to-cryptocurrency-mining-businesses/266967.vnp
What do you guys think about this?
The Governor of EGAT said that if the drought in Laos becomes severe, hydropower plants in Laos will generate less electricity, reducing export capacity.
https://en.vietnamplus.vn/laos-stops-power-supply-to-cryptocurrency-mining-businesses/266967.vnp
What do you guys think about this?
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