Following a harsh clampdown imposed by China on Bitcoin-related transactions, the exiled miners from China found refuge in Kazakhstan to mine Bitcoin without excessive government intervention. The country’s cheap electricity supply has made Kazakhstan a popular choice for miners to mine Bitcoin, however, the recent development has propelled the country to reconsider its newly acquired title.
But Kazakhstan is now fighting a rising energy crisis, as increased Bitcoin mining activity has compelled miners to make excessive use of the city’s cheapest electric supply which is now depleting at a visibly faster rate.
The feud between registered and “grey” miners
Kazakhstan’s energy minister Magzum Mirzagaliyev has assured crypto miners that the regulated crypto operations will not be hampered at any cost. However, the “grey miners” or the ones who are not registered with the government may soon be left with limited choices that include either leaving the region for good
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