Kazakhstan Becomes The New Crypto Mining Hub

Data from Cambridge University suggest that Kazakhstan is increasingly sharing the global hash rate of cryptography. This also applies to the United States.

After the crackdown of the process in China, the US and Kazakhstan have seen an increase in bitcoin mining operations, revealing fresh data about the global energy consumption of the process.

It is interesting that the data submitted goes only until April. This was around the time when Chinese authorities spoke more and more of cryptocurrency crackdown.

Graphical data via cbeci.org

Now that China is going to continue along these roads, the large exodus of miners is already begun. It looks like Kazakhstan plans to assume the place of China, based on the given facts.

During this time, the hash rate in the US climbed from approximately 4% to 17%, with Chinese neighbour Kazakhstan rising from 1.4% to 8.2% making bitcoin mining operations the world’s third-biggest.

People have their views on it and posted it on twitter.

Leaving Russia behind…

According to CCAF, this estimate was based on information from four global bitcoin mines, which account for 32 to 37% of the overall hash rate in the period investigated.

Many Chinese Bitcoin miners are shifting equipment and establishing operations in the United States, according to Peter Wall, Chief of Argo’s cryptomining company.

Experts claim that with the country’s repression of the process since May 2021, the vast migration of crypto-currency mining from China might only make the US share of the mining business greater.

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