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Kazakhstan just shut down crypto mining till February

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by COINS NEWS 184 Views

I'm from Kazakhstan and we just got the news that crypto mining won't get any electricity until February. We had pretty big outage yesterday, and our electric company confirmed, they can't deal with the demand, so they won't provide electricity to mining facilities.

Given that Kazakhstan is pretty significant in mining field, could it affect crypto prices? The last time something similar happened at the beginning of this month BTC dropped to low 40k. That time Kazakhstan didn't have internet access for a week. Now there won't be any mining activity for at least 6 days, and I doubt that electricity will be provided to miners at the first day of February, so we are probably looking to a 8-10 days time period.

Edit: to the news article (in Russian) here

submitted by /u/timpi_kz
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