In recent developments, Electricite du Laos (EDL) announced on August 24 that the power company shut down cryptocurrency mining activities. This decision came after this summer’s unprecedented heat surge escalated electricity demands. Furthermore, these mining operations have reportedly been defaulting on their debts.
Laos’ Crypto Mining Grinds to a Halt Amid Energy Crisis
Situated in Southeast Asia, Laos, surrounded by nations like Myanmar, China, Vietnam, Cambodia, and Thailand, has reportedly halted its crypto mining. Interestingly, Laos relies on hydropower for a significant 95% of the country’s electricity generation.
Over the first half of 2023, EDL’s hydropower stations have been overwhelmed with electricity consumption. The scorching heat is a major factor driving this soaring demand. But that’s not all; the Laos government states that regional mining activities haven’t cleared their dues. Notably, Laos has been increasingly open to cryptocurrency operations since 2
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