Photo by Erik Romanenko\TASS via Getty Images Cryptocurrency miners in Kazakhstan are facing widespread electricity shortages amid a surge in mining, as reported by the Financial Times . Kazakhstan has been grappling with an overloaded energy grid as miners flock in from China, which cracked down on crypto earlier this year and banned crypto-based transactions in September. Over 87,849 “power-intensive” mining rigs have made their way from China to Kazakhstan According to the Financial Times , Kazakhstan’s demand for electricity has risen about eight percent since the beginning of 2021, a sharp increase from the one or two percent annual growth that the country typically experiences. The Financial Times’ research also estimates that over 87,849 “power-intensive” mining rigs have made... Continue reading… from The Verge - All Posts https://ift.tt/319daEh