Kazakhstan is drafting rules that would allow cryptocurrency mining powered by natural gas currently being flared at oil fields, according to a post by Bitcoin News on X. The move is being prepared under a decree from President Kassym-Jomart Tokayev. The country had previously auctioned off grid electricity and moved most of the mining industry away from its aging power grid. Daniyar Mubarakov of the Blockchain and Digital Mining Association told Euronews that the gas in question could generate 1.2 to 1.3 terawatt-hours of electricity. Data from Kazakhstan’s Energy Ministry shows that as many as 60 oil fields may have flared gas available for this use. The report points to a possible new power source for mining operations without adding new facts beyond the disclosed policy work, energy estimate, and field count.
Kazakhstan is drafting rules to allow cryptocurrency mining using natural gas that is currently flared at oil fields, according to a post from Bitcoin News on X. The rules are being prepared under a decree issued by President Kassym-Jomart Tokayev.
The country had previously auctioned grid electricity and moved most of its mining industry away from the aging power grid.
Daniyar Mubarakov of the Blockchain and Digital Mining Association told Euronews that the gas could generate 1.2 to 1.3 terawatt-hours of electricity. Statistics from the Energy Ministry show that as many as 60 oil fields have flared natural gas.
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