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    Crypto Miners in Kazakhstan Will Have Their Power Cut Off Until the End of the Month


    January 27, 2022 - CoinCodex

     

      https://secure.newsedge.com/mediaKey/frknBTkmi1TnIr2kmXHH7R5X5efnAvohRQP... alt="Crypto Miners in Kazakhstan Will Have Their Power Cut Off Until the End of the Month">

      Key highlights:

      • Kazakhstan is cutting off the supply of electricity to crypto miners between January 24 and January 31
      • On January 25, there were significant blackouts in Kazakhstan, Uzbekistan and Kyrgyzstan after issues with Kazakhstan's North-South power line
      • Earlier in the month, some crypto miners in the country were affected by an internet shutdown

      Crypto miners in Kazakhstan are having their power cut off until the end of January

      Cryptocurrency miners in Kazakhstan are being cut off from their energy supply from January 24 to January 31. KEGOC, a state company that manages the national power grid, said in a memo that “the planned supply of electricity to persons engaged in digital mining is completely canceled”.

      According to https://www.aljazeera.com/news/2022/1/25/millions-left-without-power-aft..., a major power line was disconnected in Kazakhstan on January 25, which led to blackouts in the country, as well as Uzbekistan and Kyrgyzstan. The issue was caused by "emergency imbalances" in the Central Asian part of Kazakhstan's North-South power line.

      Kazakhstan has emerged as a popular destination for cryptocurrency miners after China https://coincodex.com/article/11497/chinas-bitcoin-mining-crackdown-cont... down on its crypto mining industry in 2021. While it first began on a region-by-region basis, China’s mining crackdown later expanded on a national scale.

      Data from https://ccaf.io/cbeci/mining_map">CBECI estimates that miners located in Kazakhstan accounted for 18.1% of the https://coincodex.com/crypto/bitcoin/">Bitcoin hashrate as of August 2021. According to the same data set, miners in the United States are the biggest contributors to the Bitcoin hashrate with a 35.4% share.

      Despite emerging as a major mining hub, Kazakhstan isn’t giving free rein to crypto miners. In October last year, energy minister Magzum Maratuly Myrzagaliev signed an order seeking to https://www.coindesk.com/policy/2021/10/22/kazakhstan-to-limit-power-for... the electricity consumption of newly authorized Bitcoin mining operations to 1 megawatt over two years. The same order also sought to limit the total capacity of cryptocurrency mining in the country to 100 megawatts.

      Earlier in January, some cryptocurrency miners in Kazakhstan were affected by an interent shutdown that authorities enacted as a response to civil unrest caused by surging fuel prices.

      The https://bitinfocharts.com/comparison/bitcoin-hashrate.html">total Bitcoin hashrate has been trending upwards since early July, when it cratered at the height of the mining crackdown in China. Currently, the Bitcoin network has an estimated hashrate of 184.8 exahashes per second. The hashrate hit an all-time high earlier in January at 217.2 exahashes per second.




      The views expressed in content distributed by Newstex and its re-distributors (collectively, "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex et al. It is provided as general information only on an "AS IS" basis, without warranties and conferring no rights, which should not be relied upon as professional advice. Newstex et al. make no claims, promises or guarantees regarding its accuracy or completeness, nor as to the quality of the opinions and commentary contained therein.

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