Cryptocurrencies
Bitcoin Miners Who Flocked to Kazakhstan Now See ‘Zero Potential’
A crunch in the country’s power supply has pushed the government to crack down on an energy-intensive industry it had once welcomed with open arms.
This article is for subscribers only.
Kazakhstan’s Bitcoin-mining boom ended even quicker than it started.
A squeeze in the central Asian nation’s power supply has pushed the government to place big limits on the energy-intensive industry. The rapid reversal has eliminated one of the cheapest places to mine the cryptocurrency just as Bitcoin's rise this year has made the process more profitable.