Bitcoin mining manufacturer Canaan expands footprint in Kazakhstan

[newshunter]

Bitcoin mining manufacturer Canaan expands footprint in Kazakhstan

China’s crackdown on crypto mining has allowed Kazakhstan to quickly fill the void by offering cheap fuel and a welcoming business environment. 

Source: Bitcoin mining manufacturer Canaan expands footprint in Kazakhstan

Would appreciate your opinion about this

[TomPluz]

Bitcoin mining was kicked out of China because the government got convinced that it was the right thing to do and was on its own interest for many reasons...and that was good news for the government when miners started to left the country in droves. Now, many of them went to Kazakhstan since this country is open to the mining industry...and this country know that this can be a good business to deal with. However, we understand that regulations will soon be in placed so as not to make things out of control - and this can still be generally good for the business.

[Fenix]

The current events taking place in Kazakhstan, connected with the mass protests of the people against the government's pricing policy and the tough confrontation between people and law enforcement agencies, as a result of which more than a thousand people have already suffered, may negatively affect the mining of cryptocurrency. After the violent suppression of the protests, it seems that massive repressions will also begin there, as was the case recently in Belarus. And again we see that the Russian military is already climbing into this country.

[Gravatai]

I think there will be problems with mining in the country for several weeks, especially considering that the president of the country, instead of resigning, decided to send Russian peacekeeping troops into the country. The impact on the hash rate of 14% is not much, but the Bitcoin price reacted to it significantly quickly. If mining recovers, then the price should go up again, so we follow the events in Kazakhstan and wait for changes.