December 4, 2021

Miners started leaving Kazakhstan due to power shortage

According to Xive co-founder Didar Beckbau, cryptocurrency mining companies are moving to Russia and USA.

Mining companies started leaving Kazakhstandue to the lack of electricity. Coindesk was told this by Didar Beckbau, co-founder of Xive, which has closed a data center for 2,500 mining rigs in the southern part of the country. Other companies are looking for relocation sites, Beckbau said. Basically, miners are moving to Russia and the United States, Beckbau added.

In October, the authorities of Kazakhstan restricted minerselectricity consumption up to 100 megawatts (MW). The measures were introduced due to the power shortage, which was provoked by the massive influx of miners into the country.

According to Cambridge Center of AlternativeFinance, in August Kazakhstan ranked second in the world in bitcoin mining. This happened after miners left China en masse due to the introduction of strict restrictive measures against cryptocurrencies. After that, the United States took the first place in the production of bitcoin in the world, and Russia took the third place.

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