Crypto Miners in Kazakhstan Face Bitter Winter of Power Cuts

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The story is 155973229.

The closer-look dept posted by msmash on Friday November 26, 2021.

Illegal miners and mass relocations after a ban on cript mining in China overload the energy grid. Matthew Heard, a software engineer from San Jose, is worried about his 33 mining machines in Kazakhstan. The national grid tried to limit the power used by the miners by shutting them down. He said that his machines have been offline for days. Even if my machines come on, they barely stay on. The popularity of cryptocurrencies has caused a lot of problems for the country, including a mass migration of miners to its borders after China made mining illegal in May.

The Kegoc grid operator warned that it would start rationing power to the 50 miners that are registered with the government, if the grid suffers problems, after three major power plants in the north of the country went into emergency shutdown last month. Heard's machines are managed by Enegix, a company that rents out space to run mining machines. He said his income has dropped from an average of $1,200 a day in October to $800 in October, and his machines have only been on for 55 percent of the time. He said that machine owners don't know when shutdowns are going to happen or when they'll go back online.


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