Cryptocurrency NewsKyrgyzstan to Spend $20 Million to Build a Hydropowered Crypto Mine

Kyrgyzstan to Spend $20 Million to Build a Hydropowered Crypto Mine

As per reports from a local media outlet, President Japarov has given the green light for the establishment of a crypto mining farm at the Kambar-Ata-2 Hydro Power Plant. This venture is expected to require an investment of around $20 million and serves as a potential solution to tackle energy losses experienced by the power plant during certain periods. Specifically, there are times when the station generates more electricity than it actually needs.

The Kambar-Ata-2 Hydro Power Plant, which commenced operations in 2010, has the capacity to produce 120 MW of energy annually. However, it is currently only utilizing 90 MW of this capacity, resulting in the remaining 30 MW going to waste, dissipating into the environment. This inefficiency has led to a considerable financial loss of over $37 million for the plant. By utilizing the excess energy for crypto mining purposes, it aims to optimize resource utilization and potentially generate revenue from the surplus power instead of it being lost.

“We have enough electricity on summer days. It even exceeds. We cannot sell anywhere. Therefore, in order to benefit the energy system, we are allowing sites that can carry the load,” Japarov explained.

He explained that the crypto mining facility might pause its operations during the winter months when the power plant’s productivity is lower. The plan is to complete the construction of the mining facility within the next nine months.


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