The state-owned Kazakhstan Electricity Grid Operating Company (KEGOC) has informed data centers authorized to mint digital currencies in Kazakhstan that they would be closed until February 7. The announcement comes after the country’s electricity distribution utility said that previously implemented supply limitations will be extended for another week.
Kazakhstan has extended the power cut for bitcoin mining activities until February 7. The power outage was scheduled to conclude on January 31. However, continued power supply issues have compelled the business to extend the restriction until February 7. The Chinese government’s crackdown on mining centers prompted the relocation of numerous crypto mining equipment to Kazakhstan. However, mining operations consumed massive quantities of electricity, resulting in power shortages in the former Soviet Republic and a ban on mining activity.
Kazakhstan has massive supplies of gas and fossil fuels, and the cheap energy drew miners since crypto mining requires massive amounts of power. The rush of miners, which raised the country’s share of the global bitcoin hash rate to more than 18%, has been blamed for the power outages.
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