ChainCatcher news, Somboun Sangxayarath, an advisor to the state-owned Electricité du Laos (EDL), stated that due to cryptocurrency mining and unstable rainfall, the electricity demand in Laos has increased, leading to power shortages, which indicates that the country's prospects as a hydropower exporter in Southeast Asia are facing challenges.Laos is referred to as the "battery" of Southeast Asia due to its hydropower export potential, providing the cheapest and most stable clean energy, which is crucial for the Southeast Asian region striving to decarbonize while expanding solar and wind energy capacity.Sangxayarath noted that the policy established in 2021 to create data centers has led to a boom in cryptocurrency mining operations, which currently accounts for more than one-third of Laos's electricity demand, while reduced rainfall has suppressed hydropower output, resulting in blackouts. Over the past decade, hydropower has accounted for 80% of Laos's electricity generation, most of which is sold by independent power producers through cross-border transactions with Thailand and Vietnam.Sangxayarath added that in the domestic market, EDL is the electricity supplier and has become a net importer since 2021, requiring up to 600 megawatts (MW) of additional capacity during peak demand periods, which has more than doubled the company's costs.Laos stated last year that it would not supply electricity to cryptocurrency projects that have not yet started operations. Sangxayarath said that while the order remains in effect, it is still actively considering new investment proposals and seeking to enhance electricity supply.

ChainCatcher news, the blockchain-based global settlement network Velo and its partner Lightnet announced the signing of a memorandum of understanding with the Solana Foundation to collaborate on the Laos Gold Project. Solana will serve as the blockchain settlement layer, while Velo will act as the backbone infrastructure layer and the designated clearinghouse for the Laos Digital Gold Exchange.It is reported that this collaboration will ensure the efficiency and security of transactions on the blockchain and enhance interoperability between different blockchains.

ChainCatcher news, according to local media reports cited by the Vietnam News Agency, the Electricité du Laos (EDL) has announced that it will no longer supply power for cryptocurrency mining operations in Laos.EDL stated that Laos experienced drought and extreme heat in the first half of 2023, leading to high electricity demand and hydropower plants struggling to generate sufficient power. 95% of the electricity in Laos is generated by hydropower plants through its system, with plans to supply power locally and export a large amount to the Electricity Generating Authority of Thailand (EGAT) to supply the Thai grid during the upcoming dry season in 2024.The president of EGAT stated that if the drought in Laos worsens, the power generation capacity of Laotian hydropower plants will decrease, thereby reducing export capacity. Meanwhile, Laotian authorities stated that the cryptocurrency mining operations have failed to repay their increasing debts.