Re: Kuwait Bans Bitcoin and crypto payments, investement and mining

Bitcoin mining is a parasite.

Reasons it was banned in Kuwait are simple.

https://blockworks.co/news/bitcoin-mining-banned-kuwait

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Kuwait the most affordable location to mine bitcoin (BTC) worldwide.
One roundup suggested the cost of mining in Kuwait was just $1,400 per BTC in 2022 compared to more than $18,000 in Texas
(bitcoin was worth more than $40,000 at the time).

https://blogs.lse.ac.uk/mec/2021/02/11/the-unsustainability-of-kuwaits-energy-system-examining-kuwaits-energy-problem/

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Ninety-five percent of total electricity costs are subsidised by the government, meaning that end-users pay only 2 fills/kWh,

Kuwait is no longer able to waste their money keeping their btc miners afloat.