Kazakhstan’s Crypto Miners Face New Regulations After Contributing to Power Shortages

Kazakhstan’s Crypto Miners Face New Regulations After Contributing to Power Shortages
Kazakhstan’s energy grid is coming apart at the seams because of the massive influx of bitcoin miners. But that might turn out to be a blessing in disguise as the government and industry look for a response that won’t decimate the industry.The Central Asian country’s share of the global hashrate – the amount of computer processing power spent mining bitcoin – roughly doubled since May, when Chinese miners, banished from their own country, started moving operations overseas.Kazakhstan is now dealing with electricity shortages, a problem that was hard to anticipate in an energy-rich country that normally has excess electricity. Government…