Électricité du Laos (EDL), a state-owned electricity distribution company, has decided to suspend the electricity supply to cryptocurrency mining operations in the country due to several reasons, including drought conditions, increased demand for electricity, and outstanding balances from crypto mining projects.
The drought in the first half of 2023 led to higher electricity demand and difficulties for hydropower plants, which generate 95% of the country’s power, to produce enough electricity. This situation also impacts the country’s ability to export electricity to Thailand in 2024.
The decision to suspend electricity supply to crypto mining operations comes almost a year after the Laotian government approved a public-private pilot to explore crypto mining and trading, aiming to capitalize on China’s crackdown on mining.
Meanwhile, the Sultanate of Oman has launched a $370 million crypto-mining center in the Salalah Free Zone, operated by local company Exahertz and Dubai-based blockchain firm Moonwalk Systems.
In a separate development, a Chinese official, Xiao Yi, was sentenced to life in prison for corruption and abuse of power in operating a Bitcoin mining enterprise. Prosecutors said Yi covered up the mining operations by instructing departments to fabricate reports and adjust electricity consumption.
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