KAZAKHSTAN INTERNET SHUTDOWN DEALS BLOW TO GLOBAL BITCOIN MINING OPERATION

On 6 January, the Guardian reported that Kazakhstan is a power player in the bitcoin world and last year, it became the world’s second-largest centre for bitcoin mining after the US, after China clamped down on crypto mining activity.  As of August, Kazakhstan was hosting 18% of global bitcoin mining.  The government said last year it planned to crack down first on unregistered “grey” miners which it estimates might be consuming twice as much power as the “white” or officially registered ones.  Last year, its energy ministry said that “grey” mining may consume up to 1.2GW of power, which together with “white” miners’ 600MW comes up to about 8% of Kazakhstan’s total generation capacity.

https://www.theguardian.com/world/2022/jan/06/kazakhstan-bitcoin-internet-shutdown

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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