Laos Decides: Goodbye Crypto Mining, Hello AI & EVs! 😲

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In the land of Lao, a country nestled in Southeast Asia, a bold decision is on the horizon-one that will surely leave crypto enthusiasts scratching their heads. By the end of the first quarter of 2026, Laos plans to redirect its precious energy resources away from the ungrateful world of Bitcoin and other crypto mining operations.

Laos To Turn Power Off For Crypto, Power On For AI & EVs

According to the ever-reliable Reuters, Laos is feeling a bit nostalgic about contributing to industries that actually-get this-contribute to economic growth. No more feeding the insatiable energy beast that is crypto mining. Instead, Laos wants to use its electricity to fuel sectors like AI, electric vehicles (because who needs a gas-guzzler?), and even metal refining. Just a little more productive, wouldn’t you say?

Bitcoin mining, along with other blockchain networks, relies on a highly sophisticated consensus mechanism known as proof-of-work (PoW). What does that mean? Well, miners, who must certainly have better things to do, compete against each other with their powerful computing machines. It’s a race to solve a mathematical puzzle, where the winner gets to add a new block to the chain and scoop up rewards. It’s like a techie treasure hunt, but with more electricity and less actual treasure.

Before 2021, China was the undisputed king of Bitcoin mining, dominating the global Hashrate. But in May 2021, China decided it had had enough of this crypto circus and slapped a ban on mining. As a result, the network’s Hashrate crashed. Ouch.

So, who swooped in to pick up the slack? A few energy-rich countries, including Laos. In 2021, Laos threw its hat into the ring, offering its vast electricity surplus to crypto miners. Chanthaboun Soukaloun, the country’s deputy energy minister, told Reuters, “We saw an opportunity to cash in on the electricity we had in abundance.”

Laos, being an energy powerhouse thanks to its hydroelectric plants, has long been a key exporter of clean energy. But, in a shocking turn of events, the government decided that its energy could be better spent elsewhere-like powering industries that actually contribute to job creation and build domestic supply chains. Not to mention that AI and EVs could use a little more juice, too.

Initially, Laos had grand plans to cut off crypto mining this year, but thanks to an unexpected downpour of rainfall (hello, Mother Nature), they decided to hold on a little longer. Now, however, the end of the crypto mining era is officially slated for the end of Q1 2026.

Don’t think this change is coming out of nowhere. Laos has already started cutting back on crypto mining operations. Back in 2021 and 2022, these mining farms were guzzling a jaw-dropping 500 MW of power. But now, their consumption has dropped by a staggering 70%, down to just 150 MW. Progress!

Meanwhile, Bitcoin mining is having its own little crisis. The global Hashrate has been on a downward slide recently, according to data from Blockchain.com. A new all-time high (ATH) was set in late September, but since then, it’s been all downhill for the miners.

But it’s not just mining that’s struggling. Bitcoin’s price has dropped by 3% in the past 24 hours, dipping back to the $107,900 mark. Just another day in the crypto rollercoaster!

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2025-10-17 16:17