Bitcoin Mining Banned in Kuwait as Power Grid Reaches Breaking Point
The post Bitcoin Mining Banned in Kuwait as Power Grid Reaches Breaking Point appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The government of Kuwait has initiated a crackdown on cryptocurrency miners throughout the nation, accusing them of aggravating power shortages with summer just around the corner, according to a Reuters report. The interior ministry last week declared a “wide-ranging” security campaign targeting houses that have been converted into mining centers. Power Grid Under Severe Strain The crypto mining operations “represent an illegal exploitation of electric power” and can trigger blackouts impacting residential homes, commercial establishments, and critical services, Kuwaiti authorities said. The operations “present a direct threat to public safety,” the interior ministry added in its announcement. The power shortage in the Gulf country is a result of multiple causes: a population increase, urbanization, increased temperatures, and postponed upkeep at current power plants. Authorities have focused on the southern sector of Al-Wafrah, where around 100 houses were said to be utilized for mining operations. Video: Kuwait Busts Crypto Miners’ Den Operating in Residential Area#Kuwait #CryptoMinning #CryptoCurrency https://t.co/uJi7sH6TAL — ARAB TIMES – KUWAIT (@arabtimeskuwait) April 25, 2025 Mining Operations Exploit Cheap Electricity Some of Al-Wafrah’s mining facilities use as much as 20 times the average electricity levels that ordinary homes require, according to earlier reports made by the ministry of electricity. The nation’s highly subsidized cheap electricity has brought miners who hope to make big profits. A rendering of a crypto mining operation. Image: Gemini Imagen. Legal Gray Area Fuels Problem Though Kuwait has prohibited cryptocurrency trading, the nation lacks legislation governing mining operations. This loophole has enabled miners to work in a legal limbo even as the central bank cautioned against investing in cryptocurrencies. The case illustrates how crypto mining looks for areas with low electricity costs. The same trends have been observed globally, leading nations from…
The post Bitcoin Mining Banned in Kuwait as Power Grid Reaches Breaking Point appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The government of Kuwait has initiated a crackdown on cryptocurrency miners throughout the nation, accusing them of aggravating power shortages with summer just around the corner, according to a Reuters report. The interior ministry last week declared a “wide-ranging” security campaign targeting houses that have been converted into mining centers. Power Grid Under Severe Strain The crypto mining operations “represent an illegal exploitation of electric power” and can trigger blackouts impacting residential homes, commercial establishments, and critical services, Kuwaiti authorities said. The operations “present a direct threat to public safety,” the interior ministry added in its announcement. The power shortage in the Gulf country is a result of multiple causes: a population increase, urbanization, increased temperatures, and postponed upkeep at current power plants. Authorities have focused on the southern sector of Al-Wafrah, where around 100 houses were said to be utilized for mining operations. Video: Kuwait Busts Crypto Miners’ Den Operating in Residential Area#Kuwait #CryptoMinning #CryptoCurrency https://t.co/uJi7sH6TAL — ARAB TIMES – KUWAIT (@arabtimeskuwait) April 25, 2025 Mining Operations Exploit Cheap Electricity Some of Al-Wafrah’s mining facilities use as much as 20 times the average electricity levels that ordinary homes require, according to earlier reports made by the ministry of electricity. The nation’s highly subsidized cheap electricity has brought miners who hope to make big profits. A rendering of a crypto mining operation. Image: Gemini Imagen. Legal Gray Area Fuels Problem Though Kuwait has prohibited cryptocurrency trading, the nation lacks legislation governing mining operations. This loophole has enabled miners to work in a legal limbo even as the central bank cautioned against investing in cryptocurrencies. The case illustrates how crypto mining looks for areas with low electricity costs. The same trends have been observed globally, leading nations from…
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