Cryptocurrency

Kazakhstan struggles to accommodate new Bitcoin miners amid energy crisis

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 …

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