Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mini...
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages. Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops Thousands of Kazakhstanis took....
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No timeline exists as to when the internet will switch back on in the second-biggest Bitcoin mining country in the world. On Wednesday, Kazakhstan, the second-largest country in the world when it comes to Bitcoin (BTC) mining hash rate, experienced unprecedented political unrest due to a sharp rise in fuel prices. As a result, the country's presiding cabinet resigned, but not before the state-owned Kazakhtelecom shut down the nation's internet, causing network activity to plunge to 2% of daily heights.The move dealt a severe blow to Bitcoin mining activity in the country. As per data....
The crypto community reportedly expects Kazakhstan’s internet and mining industry to return to normal by next Monday. Despite major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet.BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry news agency 8btc reported Friday.“It is unlikely that our mining machines will be evacuated to North....
Authorities in Kazakhstan have gone after illegal crypto mining operations amid ongoing issues with electricity supply. Working together with law enforcement, the country’s energy ministry announced the closure of over a dozen facilities minting digital currencies.
Government Shuts Down Unauthorized Crypto Mining Operations Across Kazakhstan
Local departments of the Committee for Atomic and Energy Supervision of Kazakhstan’s Ministry of Energy have carried out a number of inspections to identify illegal coin mining operations in the country, the department said.....
More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last year’s crackdown on the industry in China, has been blamed for persisting problems with electricity shortages and blackouts. The government has gone so far as to claim that illegal players in the sector are....
The situation across Kazakhstan, hit by anti-government protests in the first week of the year, is normalizing, central authorities claim. The country’s massive crypto mining industry, which faced an internet blackout during civil unrest on top of power shortages, now hopes that the country will nevertheless remain an attractive location for miners.
President Tokayev Has Nation Under Control
After days of turmoil, the embattled administration of Kazakhstan’s President Kassym-Jomart Tokayev says it now has the country stabilized. Law enforcement agencies have....