Lao's state-owned #power company, Electricite du Laos (EDL), announced that it will no longer supply #electricity to #cryptocurrency #mining operations in the country. EDL stated that Laos experienced drought in the first half of 2023, with high temperatures leading to increased demand for electricity, making it difficult for #hydropower plants to generate enough power. EDL said that 95% of the country's electricity is generated through its system from hydropower plants, with plans to supply local power and export large quantities to the Electricity Generating Authority of Thailand (EGAT) to provide power to the Thai grid during the upcoming dry season in 2024. The president of EGAT noted that if the drought situation in Laos worsens, the power generation capacity of Lao hydropower plants will decrease, reducing their export capabilities. Meanwhile, Lao authorities stated that cryptocurrency mining operations have failed to repay their growing debts.

Kyrgyzstan’s President Sadyr Japarov has given the green light for the construction of a hydro-powered crypto mining facility at the Kambar-Ata-2 Hydro Power Plant. 

With an estimated investment of $20 million, the project seeks to address energy losses by utilizing excess energy from the plant.

The move comes amid efforts to harness the potential of the cryptocurrency industry and boost the country’s economy.

The Kambar-Ata-2 Hydro Power Plant, operational since 2010, produces approximately 120 MW of energy annually. However, it can only utilize 90 MW, resulting in around 30 MW of excess energy being wasted, leading to substantial financial losses of over $37 million.

#kyrgystan #hydropower #bitcoin #mining #cryptoonindia