13 illicit crypto mining operations halted: Kazakhstan

The Kazakhstan government agency seized a dozen of crypto mining operations, which were illegally using electricity. 

Kazakhstan is a crypto-friendly country. However, rules and regulations by the Kazakhstan government on the crypto Industry are still under consideration & creation to bring better regulation. Kazakhstan showed a significant place in the crypto Industry after the decision of China’s blanket ban on the crypto industry. Kazakhstan welcomed crypto mining companies to start their business in Kazakhstan. 

On 21 February, The Ministry of Energy of the Republic officially announced that it seized more than 13 illegal crypto mining operations from the country, which were illegally using electricity for their crypto mining purposes. 

According to the announcement, these miners were using huge amounts of electricity illegally. Around 202 megawatts of total consumption. Announced also stated that such efforts by the government agencies will remain continue to halt such crypto mining operations, which are running their operations illegally outside the laws and rules of the country.

Kazakhstan’s impact on the Bitcoin network 

At present time Kazakhstan is holding an 18.1% network hash rate of the total Bitcoin network. Almost all of the network hash rate computational power from Kazakhstan is backed by coal power, which is responsible for huge environmental pollution. The government officials are planning to bring nuclear power energy plants to the country to solve all the energy issues. 

On the first week of January this year, protests in Kazakhstan resulted in an outage of internet services and that further resulted in a big problem for the Bitcoin miners. After that Bitcoin price faced a significant correction. 

These things are showing that Kazakhstan may plan something much better in the future to adopt the crypto and crypto mining industry to show a better stand in the world like the US, which is holding a 35.4% BTC network hash rate. 

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