Odaily Planet Daily News The Electricity Company of Laos (EDL) announced that it will no longer supply electricity to cryptocurrency mining operations in Laos. The notice issued by EDL on August 24 pointed out that Laos experienced a drought in the first six months of 2023. The extremely hot weather led to high demand for electricity, and it was difficult for hydropower stations to generate enough electricity.
EDL also said that 95 percent of the country's electricity through its system is generated by hydroelectric plants. EDL plans to supply electricity locally and provide substantial power to the Electricity Authority of Thailand (EGAT) to feed the Thai grid during the upcoming dry season in 2024.
Meanwhile, Lao authorities said the cryptocurrency mining operation failed to repay its debts.
It is reported that in September 2021, the Lao government authorized six companies to trial mining and trading of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. (Vietnam News Agency)