500 illegal crypto mining farms intercepted in Kyrgyzstan

TL;DR Breakdown: The Kyrgyzstan SCNS has intercepted about 500 illegal crypto mining farms.The farms were tapping energy from power grids, which resulted in a shortage of electricity supply. Kyrgyzstan authorities have busted 500 crypto mining farms that were illegally operating in the country, a local news agency 24.kg reported on Saturday. The law enforcement agencies in Kyrgyzstan have been actively policing digital currency mining activities, given it draws an excessive amount of energy from the power grids that often results in a shortage of power supply.  Kyrgyzstan busts 500 illegal crypto mining farms The State Committee for National Security of Kyrgyzstan (SCNS) said it discovered and suppressed 500 illegal crypto mining farms being run by a citizen whose name wasn’t mentioned. The farms were illegally connected to the distribution company’s electrical networks, which drew the attention of the authorities, as crypto mining farms consume a significant amount of energy. “It should be noted that the mining farms subsequently lead to a shortage of generated electricity since one set of equipment consumes about 1,500-3,000 kilowatt per hour,” the SCNS said.  The Kyrgyzstan authorities are open to regulating cryptocurrency. However, they have always shunned illegal crypto mining farms because it’s inappropriate and places a heavy load on the power grid. In May, the State Committee fo...