As Kazakhstan Descends into Chaos, Crypto Miners Are at a Loss

set up cryptocurrency mining company Maveric Group in Kazakhstan in 2017, he thought he had hit the jackpot. Next door to China and Russia, the country had everything a Bitcoin miner could ask for: a cold climate, legions of old warehouses and factories where the mining rigs could be installed, and—especially—dirt cheap energy to power the electricity-guzzling process through which cryptocurrency is minted.

This means that, at best, cryptocurrency mining farms stop working during peak hours, when the general population turns on the heating due to the inclement winter. “From 6 pm to 11 pm—[the power providers] sometimes cut off electricity to our mining farms,” says Didar Bekbauov, founder of mining colocation company Xive. “That is definitely a problem. Hopefully when the winter season ends in March, we will be alright.” But in other cases, Rusinovich says, it was “no operation” at all.

Sam Doctor, head of research at digital asset brokerage and research company BitOoda, says the average waiting times to set up a new mining facility from scratch have skyrocketed to 24 months amid increasing demand and a cryptocurrency price rally.

Miners dont ask for dirt energy, cheap is enough. How to maintain credibility with this kind of sensationalist crap?

'Dirt cheap energy'

Is there a link between miners being squeezed out of China, and now being squeezed out of Kazakhstan? Who benefits when BTC mining is constrained?

Come on , a President that wants to hold on to power for so long goes against btc principles ElSalvador has geothermal power at it's disposal , on the back of COP26 Kazakhstan does not look like a perfect opportunity to mine Bitcoin 🌲🌲🌲🌲🌲🌲🌲🌲🌲🌲🌲🌲🌲

If only these miners tap on SpaceX SpaceXStarlink Blockstream Something that every miners ard the world can learnt

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