Illegal Crypto Mining Drains Central Asia's Power Grids
Central Asian nations, particularly Tajikistan and Kazakhstan, are grappling with a surge in illegal cryptocurrency mining. In Tajikistan, the Attorney General reported $3.52 million in damages due to illicit electricity use by miners. Kazakhstan uncovered a scheme where energy company employees supplied mining enterprises with 50 MWh of electricity over two years, valued at $16.5 million.
The region's appeal lies in cheap energy, proximity to China, and inconsistent legal frameworks. These factors create opportunities for unregulated operations, impacting energy stability and legal systems.