Miners Look Away from Kazakhstan for Growth Opportunities

Miners Look Away from Kazakhstan for Growth Opportunities
Crypto miners operating in Kazakhstan are looking to the U.S. and Russia to grow their business as the government is restricting the industry in the central Asian country.“The whole market [in Kazakhstan] has dried up so fast in terms of available capacity,” said Denis Rusinovich, co-founder of CMG Cryptocurrency Mining Group and Maverick Group, adding that he is looking into Russia to expand his operations.Since flocks of miners from China and beyond soaked up Kazakhstan’s spare energy capacity, the goverment has been dealing with severe electricity shortages.The government proposed a limit to the development of new mines of a total…