Kyrgyzstan, a formerly notorious anti-crypto country is making the news. The authorities of Kyrgyzstan have cut off electricity supply to 45 crypto mining firms.

These firms consumed a vast amount of electricity while crypto mining. The firms consumed 136 MW of electricity. This is more electricity than 3 regions of the country, Issyk-Kul, Talas, and Naryn consuming together. According to Chief of the National Energy Holding Company of Kyrgyzstan Aitmamat Nazarov, the nation doesn’t provide power, especially for crypto mining firms. The local crypto mining firms are not a part of the country’s energy distribution plan. It is because of the availability of cheap electricity that foreign companies come there for cryptocurrency mining.

The cheap energy pricing in the country has made it a popular choice for crypto mining. Thus, the country’s Ministry of Economy had submitted a draft law. The draft law details the cryptocurrency mining taxation. It will thus increase budget revenues.

Initially, the country had imposed a ban on cryptocurrencies. It was illegal to use crypto as a payment method under national law. However, it was later legalized. Like Kyrgyzstan, Iran too faced the same crypto mining issue due to cheap energy pricing. In June, the Iranian government seized around 1000 bitcoin mining machines due to power issues, as per the source.