Kuwait Cracks on illegal BTC block rewards, initiates 31 new investigations in the midst of an increase in electricity demand as the summer temperature increases.
The country’s prosecutor’s office revealed that it had questioned 116 people allegedly break BTC in almost 60 residential properties.
The office Warned Residents against illegal mining BTC and remind them that electricity must be used exclusively for its intended purposes described by the law. Surveys led by the office had revealed that hundreds of Kuwaitis caused damage to the web with its BTC mines.
The degradation arrives at a time when the Middle East oil -producing nation has struggled with massive electricity needs when summer enters. In recent weeks the government has Close the power to some areas for maintenance and capacity expansion as it prepares for a burning summer. Even with the extra capacity, experts say The country will still not meet the needs of its people and fall short with 1,600 megawatts this year and over 5,600 megawatts in 2029.
This has made the government vigilant when it comes to illegal consumption of power and BTC miners has been among its main goals.
Kuwait’s southern governor of Ahmadi has been the most affected. In the southernmost area in Wafra, the government says that over 100 residential buildings proved to be mining BTC, burning through more than 20 times the average household consumption – after a government’s degradation, consumption in the area dipped by over 55%, reports local stores.
Some local experts have the sign of the government’s laxed surveillance for the rising wave of illegal miners. Saud al-ZAID, a former board member of Kuwait’s communications and information technology regulation authority, says that the miners use the regulation of loopholes.
“They saw government subsidies, saw the absence of surveillance and saw no laws in place, so they used the situation to their advantage,” he said.
Kuwait is among the smaller block reward mining countries. According to data From the University of Cambridge, the country accounted for only 0.05% of BTC -hashrate in January 2022. But with Kuwait’s total power generation was lower than most nations, even less BTC mining operations can have a significant impact.
The degradation comes just over a month after the Kuwaitian government revealed that there were over 1,000 illegal mining operations in the country. It warned all offenders to turn off or meet legal consequences and note that BTC mining is a “unlicensed business and a direct violation of the country’s law.”
Hive Digital expands Paraguay business
Meanwhile Hive Digital Technologies (TSXV: BEEHIVE), one of the largest BTC miners globally, expands their operations in Paraguay because it is diversified from North America.
Hive recently announced That its mining capacity had increased by 10% from March and hit 7.3 exahash per second (EH/S). The bolt was due to the operation of its 100-megawatt facility in Paraguay. The company intends to increase its hashrat by 2 EH/s every month to meet 11.5 EH/SI June.
HIVE’s expansion in Paraguay follows acquisition of a 200 MW facility in the eastern Paraguayan district in Yguazu from Bitfarms for $ 85 million.
“This enlargement gives Hive a strategic advantage to scale production using pure hydropower. commented Chairman Frank Holmes.
In a separate interview, CEO Aydin Kilic noted That the miner chose Paraguay for his low -cost energy, political stability and government, which welcomes investments from foreign companies. He added that the company intends to scale its facilities to 300MW this year.
Hive has also collaborated with local stakeholders, including creating strong relationships with suppliers and hiring local experts.
“Our goal is to create a local ecosystem of support that keeps costs stable while increasing operating time and efficiency,” Kilic pronounced.
In addition to Paraguay, the miner in Venezuela expands. Coo Luke Rossy revealed that the company intends to distribute 100 MW of air -cooled containers in the country in November.
While expanding its operations in South America, Hive Moved Its head office to Texas earlier this year, with reference to increased “crypto” support during the Trump administration.
Watch: Untangling Bitcoin Mining on Coeingeek Weekly Livestream
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