Kuwait Issues Warning Over Illegal Cryptocurrency Mining, With Over 1,000 Sites Under Investigation

The Kuwaiti Ministry of Interior has issued a stern warning regarding illegal cryptocurrency mining within the country. The government revealed in a statement on April 22nd that over 1,000 homes are suspected of operating illegal crypto mining operations. This disclosure follows an investigation by the Ministry of Electricity, Water and Renewable Energy, which uncovered significantly elevated electricity consumption levels across various households in the Al-Wafra region. This unusual activity is believed to be linked to the use of cryptocurrency mining hardware. 40 million Kuwaiti dinars ($130 million) are estimated to have been lost due to this illegal activity.