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Kazakhstan Struggles to Bear Weight of Exiled China Bitcoin Miners

November 12, 2021
Source: bitcoinethereumnews.com bitcoinethereumnews.com
News Snapshot:
In brief - Kazakhstan has become the second-most-popular country for Bitcoin mining. - The country boasts cheap electricity—but not endless amounts of it. When China clamped down on Bitcoin mining earlier this year, over half of the Bitcoin’s network hashrate was forced into exile. Much of that moved to the U.S., as evidenced by a rash of hardware farms popping up in Texas and other crypto-friendly jurisdictions. But not all of that hash power went so far. Kazakhstan, which has become the second-most-popular country for Bitcoin mining according to data from the Cambridge Centre for Alternative Finance, is at a...
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Tags: bitcoin | blockchain | Business | China | crypto | data | data center | development | digital | Economy | energy | finance | fintech | government | hardware | illegal | IT | Kazakhstan | network | news | power | president | report | Reuters | Texas

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