In a strange twist of events, crypto miners in Abkhazia have had their power turned off as they enter 2019. The country’s power company – RUE Chernomorenergo – announced on its Facebook page that it will be cutting the power to crypto miners over fears that there would be a power shortage in the nation. RUE Chernomorenergo noted that many firms disagreed with the move, but had little choice but to accept it.
15 Facilities Shut Down
Around the country, 15 facilities with a capacity of 8,950 KW/h have been shut down. The government alleges that this is enough power to cover 1,800 homes. While these measures are only temporary to cap the energy expenditure by a few big consumers in the country, there are fears that this temporary moratorium on crypto mining could become permanent.
Power Shortages in the Country
The news was widely welcomed by citizens who follow the company’s Facebook page. A number of citizens were happy about the fact they could finally eat their dinner with a light on rather than only using candle lights. The Enguri Dam supplies the country with its power, and its age is beginning to show as it simply cannot generate enough power to satisfy the country as well as Georgia. This means the move to switch off crypto mining rigs in the country is highly likely to be permanent – especially given the widespread public approval.
Crypto Mining Uses Less Power Than Christmas Lights
Scores of critics around the globe claim that crypto mining wastes power at an alarming rate. However, it turns out that crypto mining actually uses less power than Christmas lights. That means that Abkhazia’s power shortage could have simply come from too many Christmas lights in the country rather than crypto miners expanding their operations. On top of this, 77.6% of all crypto mining power comes from renewable sources, meaning you don’t need to worry about crypto mining causing the next ice age.
Power Becoming a Major Issue
It isn’t just small countries like Abkhazia that are cutting power supplies to crypto miners. In Washington state in America, local governments are reeling in the fairly free reigns they gave to crypto mining firms. Local grids are becoming overloaded and there are concerns that there isn’t enough power being generated to cover the increasing crypto mining demands, as well as local residents. This has caused numerous protests and outburst from residents towards mining firms, and many are beginning to fear that clashes could turn violent as the year rolls on.
While crypto miners in Abkhazia are now looking to relocate their mining farms to pastures new, it also marks a turning point in the crypto mining industry. For the first time we have seen a government request that crypto miners shut off their equipment to allow the rest of the country to have access to power. It’s yet to be seen whether Abkhazia will develop its power grid and enable miners to switch back on their hardware, or whether this moratorium will remain in place forever.