https://safirsoft.com Global Bitcoin Hash Rate Drops After Kazakhstan Cuts Internet

Why it matters: Many people today only know Kazakhstan as the home of the fictional character Borat, but it is also one of the largest Bitcoin mining countries. The importance of the country in the crypto world this week showed that the overall popularity of Bitcoin fell by 13.4% after the internet was cut off in Kazakhstan amid widespread protests and violent clashes between protesters and officials.

A study by the Cambridge Center for Alternative Finance last year found that Kazakhstan has become the second largest Bitcoin mining center After strong pressure from China on the industry. As of August, the country was responsible for 18 percent of all Bitcoin mining — up from 8 percent before China began bombing cryptocurrencies. Arnan Garan Millero, a researcher at CoinDesk, told CoinDesk After protests over fuel price hikes that led to widespread unrest led to a "national blackout." Without the Internet, but in practice, all Kazakhstan cars should be closed due to the interruption of the Internet. On the Bitcoin network, the total Bitcoin Hash Rate has fallen from around 205,000 bitcoins to 177,330 bitcoins per day. In conjunction with the Internet outage in Kazakhstan. According to Millrod, such complexes are widely used by Kazakh miners.

https://safirsoft.com <b>Hash</b> <b>Rate</b> <b>Bitcoin</b> <b>Drops</b> in <b>Kazakhstan</b> <b>After</b> <b>Internet</b> <b>Cuts</b> It is estimated that more than 87,849 vehicles High-capacity mining has moved from China to <b>Kazakhstan</b> in the wake of the previous crackdown, which was absorbed by the low price of electricity in the former Soviet Union.Demand for electricity in <b>Kazakhstan</b> is reported to have increased by about 8% last year, leading to power shortages, blackouts Electricity has been operating in six regions of the country since October, closing three power stations.</p> <p> KEGOC Electricity Grid In 2021, it announced that it would allocate electricity quotas to 50 registered cryptocurrencies They are also the first to be cut in the event of a grid failure. </p> <p> Kazakh officials say much of the increase in electricity consumption is caused by “grey miners,” miners who are not registered for cryptocurrency from home or from home.. Factories work. It is estimated that they are behind 1,200 megawatts of consumption. of electricity from the state electricity grid, in addition to power consumption of 600 megawatts for miners



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