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Kazakhstan Plans For A Nuclear Power Plant To Keep Crypto Mining

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Bitcoinist

Thu, Nov 25, 2021

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Kazakhstan’s president, Kassym-Jomart Tokayev, proposed building a nuclear power plant to sustain the country’s crypto mining growth amidst the energy crisis the country is facing.

Tokayev accepted the country is “already feeling the first signs of power shortages in Kazakhstan”, considering it to be a result of the rapid growth in crypto mining operations.

The president now talks about the need to make “an unpopular decision”, as previous mentions of building a nuclear power plant received huge backlash and criticism in 2019, but he now states “the role of a leader is to make unpopular decisions.” I think that ultimately we will finally come to such a decision.

This is not the first time Tokayev has proposed to build a nuclear power plant.

This proposal was not well received by Kazakhstan citizens, who fear the environmental implications, costs, energy dependence on Russia, and the country’s previous history as the Soviet’s atomic weaponry testing grounds.

In 2019, the president had said that “the decision to build the nuclear power plant will not be made without considering the opinion of the majority of the population of our country.” Now, some wonder if his views on this point have changed.

Furthermore, Kazakhstan’s president said it is also necessary to “soberly assess the risks and the potential of their impact on the current financial system” of cryptocurrencies, and called for a balanced regulatory environment that allows creating the country’s own crypto exchanges.

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