Laos government plans to use hydropower surplus to conduct Bitcoin mining to alleviate debt crisis

PANews September 18th news, according to Coinpedia, the Lao government plans to use the surplus electricity generated by its hydropower projects to conduct Bitcoin mining business, aiming to create new sources of income through digital asset mining and alleviate debt pressure caused by large-scale hydropower investment. Laos has vigorously developed hydropower in recent years, with exports accounting for 26% of the total exports, but due to insufficient domestic and foreign demand, there is an oversupply of electricity. The government hopes to convert energy advantages into economic growth through cryptocurrency mining and attract local digital assets to achieve fiscal stability.