Kuwait cracks down on crypto miners to cut down on electricity usage

Kuwait has intensified its efforts to combat cryptocurrency mining following reports of power grid stress during summer, targeting homes in Al-Wafrah region near 20 times normal power consumption. The move aims to address the practice's impact on the country’s energy demand and aligns with global trends where other nations, including Russia, Kosovo, Angola, Iceland, and Norway, have introduced regulations or outright bans. Despite being a small player globally, Kuwait's crypto mining sector still contributes about 0.05% of Bitcoin production.