Vientiane (VNA) - Electricite du Laos
(EDL) has announced that it will no longer supply electricity to cryptocurrency
mining operations in Laos, local media reported.
Theย notice, issued by EDL on August 24, states that Laos
experienced drought conditions during the first six months of 2023, with
extreme heat causing high electricity demand, while hydropower plants struggled
to generate enough electricity.
According to EDL, 95% of the nationโs electricity is generated
by hydropower plants through its system, and it plans to supply electricity
locally, as well as export large volumes to the Electricity Generating
Authority of Thailand (EGAT) to supply the Thai power grid through the upcoming
dry season in 2024.
The Governor of EGAT said that if the drought in Laos becomes
severe, hydropower plants in Laos will generate less electricity, reducing
export capacity.
Meanwhile, Lao authorities said that cryptocurrency mining
operations have failed to repay mounting debts.
In September 2021, the government of Laos authorised six
companies to trade and mine cryptocurrencies to trial mining and trading
cryptocurrencies such as Bitcoin, Ethereum, and Litecoin./.
VNA
