Laos Shifts Focus: Crypto Miners Face Power Cut

Key Points:

• Shift in Focus: Laos is planning to stop supplying electricity to crypto miners by early 2026.
• Reason: To redirect power to more economically beneficial industries like AI data centers and electric vehicle production.
• Current Usage: Crypto miners now use about 150 megawatts, down from 500 megawatts in 2021-2022.

Government's Stance:

• Initially allowed crypto mining due to excess electricity.
• Now sees more value in using power for other industries.
• Crypto mining does not create many jobs or significantly boost the economy, according to the deputy energy minister.
• The cutoff was planned for this year but delayed due to increased hydropower from heavy rains.

Laos' Energy Role:

• Known as the "Battery of Southeast Asia" for exporting hydropower.
• Helps neighboring countries reduce carbon emissions.
• In discussions with China over a lawsuit from a Chinese company regarding unpaid hydropower project dues.
• Expects to resume power exports to Singapore soon through a regional power transmission corridor.

Future Plans:

• Considering increasing hydropower exports to Vietnam.
• Prioritizing industries that bring more economic benefits and support regional clean energy goals.
• Crypto mining industry may need to find a new home soon.