Crypto mining hosting company Enegix plans to achieve energy self-sufficiency by building its own hydropower plants, CEO Yerbolsyn Sarsenov and sales director Dmitriy Ivanov revealed at the World Digital Mining Summit held in Dubai on Tuesday.
Kazakhstan is facing severe electricity shortages, in part due to the swarm of crypto miners in the wake of China’s crackdown on the industry. Miners in the country have been facing power rationing since September, an Enegix spokesperson said prior to the event.The government has also drafted a bill to limit the total energy supply from the national grid to new mining centers to 100MW.The company said it will start building the hydropower stations in the first quarter of next year as part of a pilot. It plans to expand its hydropower capacity to 150MW in the next five years.Enegix is one of the largest hosting firms in Kazakhstan. Kazakhstan is the world’s second-largest bitcoin miner, according to data from the Center for Alternative Finance at the University of Cambridge.The company’s initial plan is to build small generators of 1MW-3MW in close proximity, the company representatives said, adding that this model is scalable.Enegix has already conducted surveys on Kazakhstan’s rivers to identify locations suitable for hydroelectric stations.