Kazakh Mining Hosting Firm Enegix Looks for Energy Autonomy Through Hydropower

Kazakhstan has seen severe electricity shortages, and local miners are facing power rationing.

AccessTimeIconNov 9, 2021 at 11:49 a.m. UTC
Updated Nov 9, 2021 at 4:27 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

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 arriving 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 can be expanded.
  • Enegix has already conducted surveys on Kazakhstan’s rivers to identify locations suitable for hydroelectric stations.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.