Kazakhstan likely to lose Bitcoin hash rate leadership in next index update
Several Chinese crypto mining giants like BIT Mining have already scraped some of their expansion plans in Kazakhstan. Kazakhstan, one of the world’s top Bitcoin (BTC) mining locations, is likely to lose its BTC hash rate share leadership in the next hash rate distribution update, according to industry experts.According to Cambridge Bitcoin Electricity Consumption Index (CBECI), Kazakhstan was housing over 18% of the world’s BTC hash rate as of August 2021, following only the United States.Kazakhstan’s BTC mining power increase was partly driven by the massive Chinese miners’ exodus....
Related News
While the Bitcoin mining trading is fading in Kazakhstan, Bitfinex debuts its STO platform with a BTC mining-related token. Major global cryptocurrency exchange Bitfinex is finally moving forward with its security token platform (STO) in Kazakhstan, opening the first day of trading.Bitfinex Securities, Bitfinex’s blockchain-based investment platform, is officially starting on Tuesday, the company representatives announced to Cointelegraph.Announced in September 2021, the new STO platform is regulated within Kazakhstan’s national financial hub known as the Astana International Financial....
Government efforts to identify and disconnect mining farms from the electrical networks will continue, according to the announcement. The Kazakh Ministry of Energy announced that it has discovered and terminated 13 cryptocurrency mining operations. The government executed the shutdown as part of its efforts to regulate the Bitcoin (BTC) mining sector, which has grown increasingly popular in recent years.As per the official statement, the miners were using a lot of energy, with a total power consumption of 202 megawatts. According to the Kazakhstan government, efforts to identify and....
The top three countries contributing to the Bitcoin hash rate continue to eat away the share of other players, such as Malaysia, Germany and Iran. For over a year, the oil-rich Central Asian country of Kazakhstan has maintained its position as the third-biggest contributor to Bitcoin (BTC) mining after surpassing Russia back in February 2021. As of January 2022, Kazakhstan contributed to 13.22% of the total Bitcoin hash rate, positioned right after the historical leaders the United States (37.84%) and China (21.11%), as shown below.Along similar timelines, Cambridge Centre for Alternative....
The United States now accounts for more than a third of the total Bitcoin mining activity with Kazakhstan and Russia also becoming major locations. Following sweeping crackdowns by China against Bitcoin mining activity, the United States has now emerged as the leading nation in terms of hash rate.According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global BTC mining hash rate distribution.CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining centers outside the United....
The new law introduces an additional tax levy for energy used by crypto miners starting from January 2022. As Kazakhstan becomes increasingly popular for cryptocurrency mining, the country’s president has signed a new law introducing an extra levy for crypto miners.President of the Republic of Kazakhstan Kassym-Jomart Tokayev recently signed last a new law that imposes an additional tax fee for energy utilized by crypto miners operating in the country. The new fees will take effect starting in January 2022.According to local news agency Kursiv, the new law introduces an additional fee of 1....