Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin Mining => Topic started by: Pagla on December 01, 2021, 11:02:44 AM
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When China banned Bitcoin mining in May, plenty of crypto natives scoffed—and not just because China’s tried and failed to ban crypto before.
The mining rigs would be loaded up and shipped elsewhere, they said, because the beauty of decentralized networks is that they’re borderless. Crypto finds a way.
But the miners that arrived in nearby Kazakhstan have overtaxed the country’s power grid so much that the government has gone from welcoming them to capping consumption and sourcing auxiliary power from Russia, according to a recent story in the Financial Times.
From the start of the year to August, Kazakhstan has gone from accounting for 6% of hash rate on the Bitcoin network to 18%, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI). That makes it the country with the second largest presence on the network behind the United States, at 35%, and leaves a sizable margin between it and Russia, at 11%.
More Information (https://cryptonews.net/en/news/mining/2813883/)