Laos Shifts Focus: Crypto Miners Face Power Cut

Laos is thinking about cutting off electricity to crypto miners by early 2026. This move aims to use the power for other industries that can boost the economy more, like AI data centers and electric vehicle production. Currently, crypto miners use about 150 megawatts, which is a lot less than the 500 megawatts they used in 2021 and 2022. The government initially allowed crypto mining because there was too much electricity. But now, they see more value in using that power for other things. Crypto mining doesn't create many jobs or help the economy much, according to the deputy energy minister. The plan to cut off power was supposed to happen this year, but heavy rains increased hydropower output, so they kept supplying.Laos is known as the "battery of Southeast Asia" because it exports a lot of hydropower. This helps neighboring countries reduce their carbon emissions. The country is also talking to China about a lawsuit from a Chinese company over unpaid dues for a hydropower project. Additionally, Laos expects to resume power exports to Singapore soon through a regional power transmission corridor. The government is also considering increasing hydropower exports to Vietnam. This shift shows Laos is prioritizing industries that can bring more economic benefits and support the region's clean energy goals. The crypto mining industry might need to find a new home soon.