The state-owned electricity distribution company Électricité du Laos (EDL) has announced that it will suspend electricity supply to crypto mining operations in the country due to the struggle to generate enough power amid drought conditions. The extreme heat has caused hydropower plants to generate 95% of the country’s power, and the EDL aims to supply electricity locally and export large volumes to Thailand in 2024. Additionally, the EDL has stated that crypto mining projects are unable to pay their outstanding balances. In 2021, the Laotian government approved a public-private pilot to explore crypto mining and trading, allowing six companies to conduct mining operations in the country. Meanwhile, the Sultanate of Oman has launched a $370 million crypto-mining center in a special economic zone called the Salalah Free Zone. Exahertz, a local company, will be running the center with the Dubai-based blockchain firm Moonwalk Systems.In other news, a Chinese official was sentenced to life in prison for corruption in operating a Bitcoin mining enterprise. Xiao Yi was given a prison sentence for abuse of power and corruption, as he had instructed departments to fabricate reports and adjust the electricity consumption to cover up the mining operations.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	Asia
Countries	🇴🇲 🇨🇳 🇹🇷
Sentiment	neutral
Relevance Score	7
People	Exahertz, Moonwalk Systems, Xiao Yi, Électricité du Laos
Companies	Exahertz, Moonwalk Systems, Électricité du Laos (EDL), Chinese Government, Salalah Free Z
Currencies	omani rial, nft, ethereum, lao kip, bitcoin
Securities