The industry is facing cold weather in some of Bitcoin and crypto-mining’s hotspots. This is due to power outages in Kazakhstan and government intervention in Iran.
According to Interfax Kazakhstan service, the National Association of Blockchain and Data Centers Industry in Kazakhstan has reported that several dozen of its industrial members are experiencing interruptions in electricity supplies. This means that a lot of data centers will be “idle” for longer than a month.
According to the NABDC, legal miners in Kazakhstan have lost approximately 300m kWh of electricity due to the drop in temperatures. This has resulted in a loss of over USD 9.7 million of revenue for Kazakhstan’s energy sector.
According to reports, the President of the body, Alan Dordzhiev, stated that miners who had followed the law were still being affected by power outages despite a recent decision by government officials to “urgently” move forward with mining legislation.
The President of the Nation and the Minister for Energy claimed in October that the “above-board” miners would “continue their activities without additional limitations.”
The government of Iran has intervened as temperatures drop to as low as 10 degrees Celsius in Bostan Abad, Iran. This is driving up energy consumption and leading energy providers into ordering that registered crypto mining cease operations temporarily.
According to the IRIB News Agency Mostafa Rajabi Masshhadi, the deputy managing director of the Iran Grid Management Company said that Iran had taken steps to close down crypto mining operations to reduce fuel consumption at power plants amid falling temperatures. The country had also begun to impose restrictions on the sector last month. According to him, the relevant ministry was disengaging “licensed” crypto-mining centers’ power supplies and also turning off street lights in some parts of the country when the grid showed signs of strain.
Rajabi Mashhadi said that there were forecasts for colder weather over the next week, so citizens should be careful with their power use in the coming months.
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