BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Kazakhstan Aims to One Up El Salvador In Clean Bitcoin (BTC) Mining, Here’s the Plan

El Salvador has become a benchmark for other nations on how to integrate Bitcoin (BTC) and use it for the progress of society. The small Central American nation adopted BTC as a legal tender in September this year and soon announced a clean Bitcoin mining facility powered by volcanic energy. The country mined its first Bitcoin in October this year as it continues to expand its mining facility. Now, Kazakhstan , the second-largest Bitcoin mining destination aims to one-up El Salvador in clean BTC mining.
Kazakhstan became the second-largest hash power contributor in the wake of the Chinese Bitcoin mining ban in May. The country now aims to boost its economy by facilitating a market for Bitcoin miners. However, the popularity of crypto mining in the country has led to power shortage and this has prompted the nations to look towards nuclear energy to facilitate clean BTC mining .
Kazakhstan President Sees Nuclear Power as a Great Alternative
Kazakhstan President Kassym-Jomart Tokayev in recent meetings with the bankers suggested the use of Nuclear energy to combat energy shortage. Amid growing concerns of power shortage, the small nation-state aims to expand its Bitcoin mining capacity and plans to invest over $1.5 billion in the next five years.
Kazakhstan has one of the richest uranium reserves and currently, nearly 90% of its electricity is produced via fossil fuels. A move towards nuclear energy seems feasible on paper, however, given that the country has shut down its last nuclear power plant back in 1999, it would take meticulous planning and infrastructure building to achieve the goal. The International Trade Administration has noted,
“Kazakhstan has some of the largest uranium deposits in the world and is the world’s largest uranium producer. Although plans have long existed to build additional nuclear power plants, little progress has been made on constructing these units. Kazakhstan’s economy is highly energy-intensive and uses two to three times more energy than the average for OECD countries,”
President Tokayev himself is in favor of reinitiating nuclear power projects. During an interview in September, Tokayev has said that they are in no hurry either, but if the need comes, it won’t take them long to build the infrastructure for it.
 “I myself believe that it’s time to substantially consider this issue since Kazakhstan needs a nuclear power plant,”
The post Kazakhstan Aims to One Up El Salvador In Clean Bitcoin (BTC) Mining, Here’s the Plan appeared first on Coingape .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Kazakhstan Aims to One Up El Salvador In Clean Bitcoin (BTC) Mining, Here’s the Plan


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News