Crypto mining is as true as decentralization itself; it is another story that China doesn’t root for mining and has issued a very severe crackdown against all miners within the region. Many of them have already been washed away from the country, while others are wrapping up their operation and going to search for other friendly frontiers. Among the countries which were welcoming to these mining enthusiasts and settling them and their operation was Kazakhstan. The country did vouch for settling these miners, but the electricity condition is extremely dire there.
Russia to Provide Power to Kazakhstan
There isn’t enough electricity produced to run the country, let alone facilitate crypto mining. Therefore Russia has been called for help, and it is possible that Russia will initiate electricity export to Kazakhstan to solve the issue permanently. According to the inter RAO of Russia, the project will begin supplying electricity to Kazakhstan in November. This will eventually help the country to combat this energy shortage amid crypto mining.
According to Alexandra Panina, who is the head of inter RAO, there are talks emerging from both sides that Russia will supply electricity to Kazakhstan in the month of November and will establish a full market by the end of December. The required volume of electricity is reportedly 400 MW per day, but according to the head of RAO, Russia could supply 600 MW electricity without any trouble. Because winter is about to begin and the electricity deficit needs to be brought into consideration. If the situation remains as it is now that more and more miners are settling in Kazakhstan, then the overall electric deficit of the country could go as high as 1 GW till December.
The question arises here that before welcoming these miners, why Kazakhstan didn’t do a thorough energy production survey of its power plants. If this survey had been conducted, then it would have become apparent that the country is in no capacity to promote crypto mining just yet. Anyway, Russian help amid this energy crisis to Kazakhstan should solve the problem for the time being.