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Kuwait Cracks Down on Crypto Mining Amid Power Crisis ⚡

Kuwait has launched a nationwide crackdown on illegal crypto mining, blaming it for exacerbating the country’s power crisis. The Interior Ministry announced raids on homes secretly running mining rigs, as the government scrambles to preserve electricity.

Here’s the kicker: despite accounting for only 0.05% of global Bitcoin mining in 2022, crypto mining has been a big drain on Kuwait’s fragile power grid.

Why it matters: Energy pressures are becoming a global issue for crypto — and Kuwait might just be the first domino.