A large illegal mining field hidden in private residential space was found in Central Asia’s Kyrgyzstan. Kyrgyz National Security Commission has raided the residence and confiscated 118 Bitcoin Mining machines hooked to the already diminishing energy resources of the nation.
The large-scale BTC mining operation has caused “great damage” to Kyrgyzstan’s power grid according to the authorities, reported the local media. It was revealed that the BTC mining farm was hiding under the radar by the installation of sound insulation and ventilation facilities.
Kyrgyzstan tightens mining regulations
Kyrgyzstan’s crypto mining operations saw a radial rise post-2017 when the price of cryptocurrencies began to shoot through the roof globally. The nation saw the increased activity of miners instead of Kyrgyzstan’s cheap electricity. However, this, in turn, led to a wave of electricity shortage in the country and by 2019 the Kyrgyzstan State Power Holdings Corporation announced a ban on issuing registration for Bitcoin mining projects.
Nevertheless, mining fields that were powered by private hydropower systems were permitted to continue mining activities, i.e., the ban did not apply to these facilities. Regardless, of authorities’ leniency in letting miners function on sustainable power resources, Kyrgyzstan saw a rise in illegal mining farms.
Malaysian steamroller on BTC mining rigs
The crackdown on Bitcoin mining machines has seen a rise globally due to its high energy consumption Recently, the Malaysian authorities publicly destroyed over 1000 bitcoin mining rigs that they had seized.
The BTC mining machines were laid out at the police headquarter parking space and were run over by steamrollers. The entire event was filmed and uploaded as part of a joint operation between law enforcement in the city of Miri and electric utility Sarawak Energy.
Countries are taking stances for and against BTC mining. While several Asian nations are coming together against crypto, Kazakhstan has accepted a large number of crypto miners relocating from China amid the Chinese crypto crackdown. The country has seen a six-fold rise in mining share in one year, rising from 1.4% in September 2019 to 8.2% in April.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.