{"id":205776,"date":"2021-11-25T11:01:48","date_gmt":"2021-11-25T11:01:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=205776"},"modified":"2021-11-25T11:01:48","modified_gmt":"2021-11-25T11:01:48","slug":"kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running\/","title":{"rendered":"Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running"},"content":{"rendered":"

As per <\/span>Nikkei Asia,<\/span><\/i><\/a> Kazakhstan's president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining in a bid to support the profitable crypto mining activities in the nation\u00a0<\/span><\/p>\n

“Looking into the future, we will have to make an unpopular decision about the construction of a nuclear power plant,\u201d said Tokayev in a bankers meeting held in Almaty last Friday.<\/span><\/p>\n

Tokayev first discussed the idea of building a nuclear power plant <\/span>with<\/span><\/a> Russia's President Vladimir Putin in <\/span>April<\/span><\/a> 2019. However, the idea could not be acknowledged following the heavy criticism that it received back then.\u00a0<\/span><\/p>\n

The critics were quick to respond, referring to the nuclear plant idea as an “<\/span>ecological<\/span><\/a> disaster” in the making. Despite growing unease among Kazakh's citizens, President Tokayev is keen on pursuing the idea and have addressed the apprehension of citizens regarding constructing a nuclear plant as “inappropriate”\u00a0<\/span><\/p>\n

Kazakhstan's looming power crisis<\/b><\/h2>\n

Kazakhstan boasts low-cost electricity prices that have transformed the country into a popular crypto mining spot. When China imposed a heavy <\/span>crackdown<\/span><\/a> on Bitcoin mining activities in its country, a large group of ousted miners took refuge in Kazakhstan, where they could mine crypto without excessive government intervention and could make use of its easily accessible and cheap electricity to mine Bitcoin.\u00a0<\/span><\/p>\n

To <\/span>fuel<\/span><\/a> the growing demand for Bitcoin mining, the country's energy supply had to double over to accommodate such a large influx of crypto miners.\u00a0\u00a0<\/span><\/p>\n

According to Cambridge Bitcoin Electricity Consumption Index\u2019s IP <\/span>data<\/span><\/a>, Kazakhstan controls approximately 35% of Bitcoin mining power, which is <\/span>second<\/span><\/a> to that of the United States.\u00a0<\/span><\/p>\n

Due to this sudden increase in crypto mining activities in Kazakhstan, the nation is now facing a heavy power crisis where its citizens are now experiencing frequent power outbreaks.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As per Nikkei Asia, Kazakhstan’s president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining in a bid to support the profitable crypto mining activities in the nation\u00a0 “Looking into the future, we will have to make an unpopular decision about the construction of a nuclear power plant,\u201d said Tokayev in a […]<\/p>\n","protected":false},"author":824,"featured_media":205774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2376],"tags":[60786],"post_folder":[],"acf":[],"yoast_head":"\nKazakhstan could turn to nuclear power to keep its Bitcoin mining industry running<\/title>\n<meta name=\"description\" content=\"Kazakhstan's president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running\" \/>\n<meta property=\"og:description\" content=\"Kazakhstan's president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-25T11:01:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/11\/kazakhstan-nuclear-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Juhi Mirza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Juhi Mirza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/kazakhstan-could-turn-to-nuclear-power-to-keep-its-bitcoin-mining-industry-running\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#person\",\"name\":\"Juhi Mirza\",\"url\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"caption\":\"Juhi Mirza\"},\"description\":\"Juhi Mirza is an archaeology major who is obsessive about blockchain\/Crypto technology and deems it to be the foundational philosophy of the future. 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