Kazakhstan Government Woes Impact Bitcoin Mining

• An emergency has been declared in Kazakhstan as thousands of citizens protest fuel price increases that has resulted in rioting and the resignation of the country’s top government officials.

• As a result of the widespread political unrest, utility services such as electricity and internet services have been disrupted impacting the large Bitcoin mining operations in the country.

• Kazakhstan accounts for 18% of the Bitcoin network’s hash activity, which is a measurement of the total processing power used to process transactions.

• Bitcoin’s overall hash rate has declined atleast 13.4% hours after the shutdown from about 205,000 petahash per second (PH/s) to 177,330 PH/s.