Chinese crypto miner BIT Mining is “unlikely” to escape Kazakhstan: report

Despite the severe internet outage during anti-government protests in Kazakhstan, some Bitcoin (Bitcoin) Miners operating in this country do not currently plan to leave the country.

BIT Mining, one of the largest BTC mining companies Relocation of business from China to Kazakhstan Last year, the impact of the political turmoil in Kazakhstan was still being evaluated, the Chinese industry news agency 8BTCnews Report Friday.

According to reports, a spokesperson for BIT Mining stated: “It is unlikely that our mining machines will be evacuated to North America,” adding that the company will closely monitor the situation.

The representative also pointed out that Kazakhstan is not the main business area of ​​Bit Mining because it has deployed some “mid-to-high-end mining machines” in North America. “These machines are unlikely to be withdrawn from Kazakhstan to North America, and further actions will be disclosed,” the report said.

According to some sources, despite the internet interruption, miners in Kazakhstan still managed to keep their devices online.

“Some Kazakhstan miners told us that the Internet temporarily resumed on January 7. In addition, the 4G network of Chinese mobile phones is also intermittent. The industry expects that the country may return to normal next Monday,” Chinese blockchain reporter Colin Wu Report Friday.

The source also said that the operations of some miners were not affected because most of them were located in remote areas, while the protests were concentrated in downtown Almaty. “I haven’t heard of any miners being robbed, but due to the network interruption, they cannot mine,” Wu reported.

According to the latest data from the network stability data provider NetBlocks, as of Friday morning, the Internet in Kazakhstan has been closed for 36 hours with a connection level of 5%.

⚠️Update: It’s Friday morning #Kazakhstan The Internet has been shut down for about 36 hours, putting public safety at risk and cutting friends and family from the outside world.

The connection level continues to be flat, only 5% of the normal level.

Report: https://t.co/Op5GwzXKbh pic.twitter.com/xQIYdZVhbK

— NetBlocks (@netblocks) January 6, 2022

related: Kazakhstan, the largest Bitcoin mining country, shuts down the internet in protest

But according to some sources, despite the continued power outages across the country, the turmoil in Kazakhstan seems to have little impact on the global Bitcoin hash rate. data Data from the major Bitcoin blockchain browser Blockchain.com shows that since the beginning of 2022, the total Bitcoin hash rate has not dropped at all.

BIT Mining and other major Kazakhstan mining service operators, such as the Chinese company Canaan, did not immediately respond to Cointelegraph’s request for comment.