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In response to a severe power crisis, Kuwait has initiated a comprehensive crackdown on cryptocurrency mining operations. The Interior Ministry recently launched a security operation targeting homes illegally used for mining cryptocurrencies, particularly in areas like Al Wafrah. These unauthorized mining activities had led to some households consuming over 20 times the normal electricity levels. Following the crackdown, energy consumption in Al Wafrah fell by 55%. Despite contributing only 0.05% to global Bitcoin mining in 2022, these operations significantly strained Kuwait's limited power infrastructure. The nation's cheap, subsidized electricity had made it an attractive location for miners, but the government now views such activities as a threat to public safety due to excessive energy consumption.
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11 sats \ 0 replies \ @OT 7 May
Watch out. Miners are coming for your government subsidies!
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