The Magazine for Asian Investors
Bitcoins course travel in line with the movements of the world capital markets this morning. The Dow Jones Industrial Average closed up 236 points on Monday after the United States had no plans to shut down the economy to contain the spread of the coronavirus.
The bitcoin price is currently at $57.238 at 10:24 AM ET.
The Kazakh government is currently claiming that there is not enough electricity nationwide, citing crypto mining as the main reason. Kazakhstan wants to reward investors who support the crypto sector in the country, which should lead to an insufficient power supply in many areas.
Information from Kazakhstan’s Energy Ministry indicates that energy consumption has increased by 8% this year, compared with a previous annual increase of 1-2%. That has led to power outages in six regions since October last year.
However, KEGOIC, Kazakhstan’s electricity provider, says it will solve the problem by reducing the amount of electricity supplied to crypto-mining facilities. If there is a problem with insufficient electricity, the electricity supplied to crypto-mining facilities will be cut off first.
According to the Kazakh government, Russia is asking for help in generating electricity to be sent to Kazakhstan to solve the problem.
The Spot Market is Open
Tuesday, November 30, 2021