Kazakhstan became the world's No.2 centre for bitcoin mining after the United States last year. WHY? Cryptocurrency mining requires massive amounts of electricity and because it's so cheap in Kazakhstan, the country saw an opportunity to capture the growing market when China outlawed crypto mining in June 2021. However, this growing market was put on hold when the Kazakh government shut its Internet down during a time of unrest. This is part 1 of how Kazakhstan went from a bitcoin paradise to a miner's limbo.
Kazakhstan became the world's No.2 centre for bitcoin mining after the United States last year. WHY? Cryptocurrency mining requires massive amounts of electricity and because it's so cheap in Kazakhstan, the country saw an opportunity to capture the growing market when China outlawed crypto mining in June 2021. However, this growing market was put on hold when the Kazakh government shut its Internet down during a time of unrest. This is part 1 of how Kazakhstan went from a bitcoin paradise to a miner's limbo.