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Kazakhstan Is Considering Nuclear Power To Tackle Electricity Scarcity Attributed To Crypto Miners – Mining Bitcoin News

The government in Kazakhstan is considering building a nuclear power plant to overcome a power deficit allegedly caused by the booming crypto mining industry. Power problems are driving miners who saw the Central Asian country as a new home when China recently cracked down on the industry.

NPP project in the midst of tight energy supplies for Crypto revives the mining sector in Kazakhstan

The authorities in Kazakhstan are now considering implementing a decade-long plan to build a nuclear power plant (NPP) to solve the pressing problems facing the country with a growing electricity deficit. With tariffs capped and a crypto-friendly stance, the former Soviet republic attracted a lot of Chinese miners, those from Beijing offensive against the crypto industry launched in May of this year. However, some of them are now Leave the country as their hardware is idle.

Kazakhstan’s energy minister Magzum Mirzagaliev announced this week that two locations are currently being examined as potential locations for a nuclear power plant. These are the village of Ulken in the Alma-Ata region and the city of Kurchatov in the East Kazakhstan region. Quoted by the Russian news agency Tass, Mirzagaliev stated:

We are done with the production and consumption record by 2035. We clearly see the need to build a nuclear power plant to power our people and our economy.

Kazakhstan is the world leader in uranium ore mining and has been considering building a nuclear power plant for over a decade. Mirzagaliew admitted that it would take another 10 years to build. The Nur-Sultan government is now in talks with Russia’s State Atomic Energy Corporation. Rosatom, which has built nuclear power plants in China, India and Belarus. The nuclear power plant will also help Kazakhstan achieve its CO2 neutrality targets by 2060, the official noted.

The country experienced a power shortage last summer when the influx of Chinese miners caused a power deficit of 7% in the first three quarters of the year. The energy hungry Data center were quick accused for the bottlenecks and the authorities estimated that a single crypto farm needs as much energy as 24,000 households. The deficit forced Kazakhstan, a large fossil fuel producer, to buy expensive electricity from Russia Fill in the void.

Kazakhstan has maintained a generally positive attitude towards the crypto industry. It greeted Miner and took steps to regulate the sector. Recently released estimates suggest that crypto mining could pour around $ 1.5 billion into its economy over the next five years, with over $ 300 million expected in tax revenue. In January, it will charge $ 0.0023 for every kilowatt-hour of electricity consumed by registered mining companies.

Do you think a Kazakhstan nuclear power plant will solve power supply problems and ensure enough electrical power for its crypto mining industry? Let us know in the comments section below.

Kazakhstan Is Considering Nuclear Power To Tackle Electricity Scarcity Attributed To Crypto Miners – Mining Bitcoin News, Crypto Trading News

Lubomir Tassev

Lubomir Tassev is a tech-savvy journalist from Eastern Europe who likes Hitchens’ quote: “Being a writer is what I am and not what I do.” In addition to crypto, blockchain and fintech, international politics and economics are two more Sources of inspiration.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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