Kazakhstan loses its global leading position in Crypto mining. After United State of America, the Kazakhstan is the second leading country in term of Bitcoin mining. After longest internet shutdown last week some of the big crypto miners are looking for leaves Kazakhstan.
Last week Kazakhstan suffer from huge explosion of unrest, the world 2nd largest center of Bitcoin mining caused big dropped around 13%. According to Alan Dorjiyev, the official National Association of Block chain and Data Center Industry whose share more than 80% in legal Bitcoin mining, said that from this week all crypto procedure now back online. It’s huge relief for crypto investor in Kazakhstan.
The Vincent Liu, Another big miner move all investment in Kazakhstan from China for takes advantage of country low charge, But due to huge dropped in Crypto market Liu thing about move his business to North America or Russia.
“Two or three years earlier, we called Kazakhstan a paradise of the mining industry because of the stable political environment and stable electricity,” said Liu.
“We are evaluating the situation … I suppose we will keep a part of hashrate in Kazakhstan and will move some to other countries,” he said.
In August, Kazakhstan accounted for 18% of the global “hashrate” – crypto jargon for the amount of computing power being used by computers connected to the bitcoin network. That was up from 8% in April, before Chinese miners shifted machines and bought capacity at Kazakh data centers.