Kuwait breaks down on cryptocurrencies to reduce the use of electricity
Kuwait fails with cryptocurrency miners across the country S Officials have accused the practice of eclipse and stressing his power network. The country started this repression just before the beginning of summer that experts say from 125 degrees Fahrenheit.
The Kuwait Interior Ministry said in a statement that he had held a "widespread" Security operation that is aimed at homes suspected of using cryptocurrencies. Government Agency continued to say that cryptocurrency extraction was illegal as the country Prohibit the practice in 2023 S
The opening is aimed at homes in the Kuwait Al-Vafra area, located in the southern part of the country. The Ministry of Electricity in the region said that about 100 homes are used for mine operations, often consuming up to 20 times more than normal power levels. To this end, energy consumption in the area dropped by 55 percent after surgery, a government statement said.
It is no secret that cryptocurrency extraction does huge amounts of computing power as such electricity. Kuwait is not the only country that regulates or highlights the practice. Russia banned cryptocurrency S Kosovo Already in 2022 and Angola S European countries like have strictly regulated the industry because of a lack of energy.
As for Kuwait, researchers at the University of Cambridge estimated that the country was responsible of Bitcoin’s worldwide extraction in 2022, Alex de Vris-Gao, founder of a research project that traces crypto use of energy, told Reuters that "Only a very small share of the total bitcoin mining network is needed to have a significant impact on the relatively low total electricity consumption in Kuwait."
Recent data show that cryptocurrency represents almost 2.5 percent of to the United States. This is approximately half of the energy used by S But hey, at least we get some fake coins that we can’t buy anything about our problems.
This article originally appeared on Engadget at https://www.engadget.com/big-tech/kuwait-cracks-no-on-crypto-miners- to-cut-no-electricity-usage-16120077.hhhhhhhhhhhhhhhhhhhhhhhhh
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