The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government.
Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27.
The government of Kyrgyzstan plans to spend up to $20 million to build a cryptocurrency mining facility at the Kambar-Ata-2 Hydro Power Plant.
According to the president, running a crypto mining farm will allow the government to avoid energy losses associated with non-used power from the power plant, the report said.
Since launching Kambar-Ata-2 in 2010, Kyrgyzstan has lost 6.8 billion kilowatt-hours (kWh) of energy due to this issue, Japarov reportedly said. By establishing the mining farm, the Kyrgyz government will be able to deploy the remaining energy wisely and bring benefits to the country’s budget, the president noted, stating:
“As soon as the mining farm starts working, the earned money will go to the power engineers or, to be more precise, to the ordinary people. Each tyiyn, every kWh will be under the control of power engineers. Everything will be automated and under our control.”
The report somewhat contradicts recent energy-related news in Kyrgyzstan. On July 24, the Kyrgyz president announced a state of emergency in the energy sector of Kyrgyzstan, which is scheduled to start on Aug. 1, 2023, and expected to end on Dec. 31, 2026. According to official data, the emergency situation is caused by climate challenges, a low inflow of water into the Naryn River basin and the lack of generating capacity due to excessive growth of energy consumption.
In the latest report by Kabar, Japarov stressed that crypto mining will be tariffed at the highest rate available in Kyrgyzstan, though, or around 5 Kyrgyzstani soms ($0.057) per kW.
The press office of the Kyrgyz government didn’t immediately respond to Cointelegraph’s request for comment. This article will be updated pending new information.
Government authorities in Kyrgyzstan have been increasingly looking at cryptocurrency as an opportunity to boost the local economy.
In March 2022, Kyrgyz lawmaker Karim Khanjeza called on the authorities in Kyrgyzstan to legalize the cryptocurrency industry during a parliamentary committee meeting. The official urged the government to develop a legal framework for crypto, arguing that “nothing is growing as fast as cryptocurrency.”
After days of furore directed at Rishi Sunak for the election betting scandal, now a Labour candidate is under investigation by the Gambling Commission for his own betting activity – and is immediately suspended.
Is this an equaliser in one of the grubbiest electoral sagas of recent elections? Quite possibly not.
There is no doubting the utter dismay in Labour HQ at the revelation that they too have a candidate caught up in the betting scandal.
However, if this scenario is as presented, it is hard to see an allegation being mounted that he had insider intelligence on the race – unless it can be proved he was deliberately setting out to lose.
An under-pressure Gambling Commission will investigate every candidate’s name on the spreadsheet from gambling companies of those who placed bets – but it is unclear from available facts where this will go.
The Tory betting saga, however, is more complicated and now on its 13th day.
It was almost two weeks ago that Craig Williams – Rishi Sunak’s closest parliamentary aide and former Montgomeryshire MP – admitted he had placed a bet on the election date – a date he might have known before the public at large.
He denies he committed any offence, and remains under investigation.
Laura Saunders, standing for the Tories just south in Bristol North West, has also been suspended for putting a bet on the date when her partner worked in Conservative headquarters on the election.
For most of that time, Mr Sunak has been insisting he could not suspend either candidate because of the ongoing probe by the Gambling Commission.
Ministers, as well as opponents, weighed in.
And on Tuesday he reversed that decision under that pressure.
This means there are questions about the prime minister’s own judgement and unwillingness to act on top of questions about the behaviour of those closest to him.
This story has had massive cut through with the public, topping the charts for any news story in the UK – according to YouGov’s AI news tracker – for the last four days.
There is dismay from the cabinet downwards.
Labour’s own problems have undermined their own ability to go on the attack. But it is not clear that voters will see the two issues on the same scale.
The full list of the candidates running for Central Suffolk and North Ipswich is:
Charlie Caiger, independent; Tony Gould, Reform UK; Mike Hallatt, independent; Brett Alistair Mickelburgh, Lib Dems; Dan Pratt, Greens; Patrick Spencer, Conservatives.
The full list of candidates for Bristol North West is:
Caroline Gooch, Lib Dems; Darren Jones, Labour; Scarlett O’Connor, Reform UK; Mary Page, Green Party; Ben Smith, SDP.
The full list of candidates for Montgomeryshire and Glyndwr is:
Jeremy Brignell-Thorp, Green Party; Oliver Lewis, Reform UK; Glyn Preston, Lib Dems; Elwyn Vaughan, Plaid Cymru; Steve Witherden, Labour.