Bitcoin Hashrate Recovers After Kazakhstan’s Internet Blackout
Key Points:
After China’s crypto bans, Kazakhstan quickly became the world’s second largest bitcoin mining country and now accounts for a fifth of the global total hashrate
Last week, the country’s largest city Almaty, experienced protests due to the soaring electricity rates and restrictions brought by the recent massive influx of crypto miners
Internet connections have largely been restored but interruptions are still taking place in Almaty, but the crypto mining regions seem to be back online
Miners who moved from China to Kazakhstan may be considering another move, although the government seems keen on supporting and building up Kazakhstan’s name in crypto
