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Kyrgyzstan authorities shut down a big mining farm with 2500 crypto mining rigs

A Stealth mining farm with 2500 crypto mining rigs was uncovered and shut down by the authorities in the Kyrgystan. The farm was working in the North of the country and has caused massive losses to the nation’s power grid.

Cryptocurrency started its journey with the flagship currency, BTC, and its demand is increasing from start to date. BTC mining started with introduction of token and it was very easy to mine BTC due to low difficulty of the network. Only people related to tech were interested in it but the increasing prices of crypto tokens has attracted a lot of people towards mining. The mining of Bitcoin requires a lot of computational power and a lot of energy is required.

2500 crypto mining rigs
The data which shows how much energy is consumed only in BTC mining

Mining is creating a lot of problems for environment and power sector. China and its neighbouring countries were hotspot for the mining for long time. China started crackdown and has kicked out mining firms from the country. Krygystan was also a mining hub but the miners brought electricity shortages to the country and authorities were trying hard to mitigate a growing power deficit.

Mining form with 2500 crypto mining rigs was confiscated: 

Kyrgystan started with rising the electricity tarrif due to the energy-intensive nature of their energy. In may, authorities in the Kyrgystan has seized 2000 crypto mining rigs which were operating illegaly in the capital and other cities of the country. Media reports has revealed that 2500 crypto mining rigs were confiscated by the authorities in the town of Druzhba, Issyk-Ata region.

Press release from the authorities has stated that these 2500 crypto mining rigs have caused a lot of damage to country’s grid. There is investigation going on that whether these rigs were imported legally or not. Authorities has mentioned tha foreign nationals are involved in it. Authorities are also working to identify the individuals involved in it.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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