Kazakhstan looks toward nuclear solutions to tackle Bitcoin mining energy crunch By BTC Peers – Investing.com

Kazakhstan looks toward nuclear solutions to tackle Bitcoin mining energy crunch By BTC Peers – Investing.com

The migration of miners from China into Kazakhstan has caused an energy crunch in the Central Asian country. Interestingly, the president is looking to use nuclear energy to solve the problem.

Kazakhstan’s Ministry of Energy suggests that Bitcoin miners are responsible for the 8% increase in domestic electricity consumption throughout 2021. According to data from the Financial Times, the Asian nation has received not less than 87,849 Bitcoin mining machines from Chinese companies this year following China’s crackdown on crypto mining.

The Kazakhstan Electricity Grid Operating Company opined that the remarkable increase in demand has led to a deficit in the domestic power supply, which equally led to unreliable electricity services.