Kyrgyzstan's State Committee for National Security (SCNS) shut down 500 cryptocurrency mining farms, local news website site 24.kg reported on September 18.
The mining farms were placing undue strain on the country's power grid, officials said.
"More than 500 mining farms illegally connected to power grids have been revealed," SCNS said in a statement that was published by 24.kg. "It should be noted that the mining farms subsequently led to a shortage of generated electricity, since one set of equipment consumes about 1,500-3,000 kilowatts per hour."
The agency did not appear to have released an official statement elsewhere about the incident.
Bitcoin.com reported in May that Kyrgyz authorities had seized 2,000 mining rigs from operations surrounding the capital city of Bishkek.
Related Articles
EBRD extends €100mn in risk-sharing support to two Ukrainian banks
The European Bank for Reconstruction and Development (EBRD) has signed portfolio risk-sharing facilities with two Ukrainian banks, UKRSIBBANK BNP Paribas Group and ProCredit Bank Ukraine (PCBU). The ... more
Austria’s RBI ups profit in Russia in 1Q25
Austria's Raiffeisen Bank International (RBI) increased its pre-tax profit in Russia in 1Q25 by over 25% year on year to €575mn ($651mn) due to the stronger ruble, Reuters reports. In ... more
Erste Group buys 49% of Santander’s Polish unit for €6.8bn
Erste Group acquired a 49% stake in Santander’s Polish bank for approximately €6.8bn, the Austrian lender said on May 5. The Austrian bank, the country’s largest, also agreed to purchase 50% ... more
Most Read
-
Armenia courts African countries to supply diamond industry
18 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
1 day ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
12 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
18 days ago