Kazakhstan is stabilizing, and the government claims that crypto miners are looking to the future in the country – Mining Bitcoin News

The central authorities stated that the situation across Kazakhstan was normalized by anti-government protests in the first week of this year. The country’s huge crypto-mining industry faced Internet blackouts due to power shortages during the civil unrest, and now it is hoped that the country will still be an attractive place for miners.

President Tokayev controls the country

After several days of turmoil, the government of the embattled Kazakhstan President Kassim-Jomart Tokayev stated that the country has now stabilized. According to a released statement, officials notified the head of state at a meeting on Sunday that law enforcement agencies had recovered all administrative buildings that were attacked by protesters and public services were being restored.

The troubles in Kazakhstan began on January 2, when demonstrations against the increase in natural gas and other fuel prices took place in the western part of Mangisto Province. Political protest Engulf the Central Asian Republic. Official sources said that the number of deaths in the conflict has not been confirmed, and 5,800 people, including foreigners, have been arrested.

According to the Russian Interfax News Agency, Tokayev emphasized that the security forces will take all necessary measures to fully restore public law and order in the country. The President has ordered the establishment of a special government committee to deal with the consequences of unrest in the affected areas.

Despite the challenges, crypto miners see the future in Kazakhstan

Kazakhstan has attracted many mining companies in the large-scale outflow caused by the government with its low ceiling electricity tariffs and a generally positive attitude towards the encryption industry. Suppress Since May 2021, China’s development in this industry. However, the influx of miners has increased the country’s share of the global Bitcoin hash rate by more than 18%. blame The electricity gap continues to expand, exceeding 7% in the first three quarters of last year.

According to the Kazakhstan Data Center Industry and Blockchain Association (National Broadcasting Corporation), two-thirds of the country’s legal miners united, and the riots did not affect areas where official crypto mining companies operate. The industry organization explained in a press release provided through Coinselegram that the recent decline in Bitcoin’s hash rate was caused by a temporary Internet outage, and insisted that the current situation has a short-term impact on the industry and cryptocurrency prices. NABCD Chairman Alan Dorjiyev commented:

Currently, the member companies of the association work as usual. As far as we are concerned, we are working hard to ensure that corporate social responsibility makes a positive contribution to the lives of residents in the area where the data center is located.

“From a strategic point of view, Kazakhstan will remain one of the most attractive regions for the development of cryptocurrency mining,” NABCD believes. It pledged that it is now in dialogue with relevant government authorities and announced that the power supply restrictions previously imposed on legal mining entities have been relaxed.This news is in a Report It was revealed in December last year that due to power outages, some mining companies have begun to ship equipment out of the country.

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association, Bitcoin, Blockchain, encryption, Crypto miner, Crypto mining, Cryptocurrency, Cryptocurrency, data center, deficit, Demonstration, Electricity, vitality, fuel, Computing power, the Internet, Kazakhstan, miner, mining, power failure, strength, President, price, protest, riot, shortage, condition, turmoil

Do you expect Kazakhstan to remain the main cryptocurrency mining hotspot? Tell us in the comments section below.

Lubomir Tasef

Lubomir Tassev is a tech-savvy journalist from Eastern Europe. He likes Hitchens’ famous quote: “Being a writer is my nature, not what I do.” In addition to encryption, blockchain and financial technology, international politics and economics Are the other two sources of inspiration.

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