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Kazakhstan Bitcoin Mining: Kazakhstan Protests Shut Down World Second Biggest Bitcoin Mining Hub

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Highlights

  • Violent protests in Kazakhstan have dealt a major blow to the country’s bitcoin network
  • The world’s second largest mining center has come to a standstill due to the shutdown of the Internet
  • This has resulted in a massive drop in the computing power of the bitcoin network globally.

Almaty
Violent protests in Kazakhstan have dealt a major blow to the country’s bitcoin network. The world’s second largest mining center has come to a standstill due to the shutdown of the Internet. This has resulted in a massive drop in the computing power of the bitcoin network globally. The situation is that due to the massive protests in Kazakhstan, the price of bitcoin has fallen by 10 percent.

It is being told that to quell the demonstrations, the Kazakhstan government had ordered the internet shutdown across the country. In May 2021, after electricity became expensive in China, a large number of bitcoin miners moved to neighboring Kazakhstan in search of cheap electricity. China is also the biggest hub of bitcoin mining in the world. Kazakhstan accounted for 18% of the global hash rate in August. He was only behind America in this respect. Globally, the hash rate fell by 14 percent on Thursday.

Former head of anti-terror agency arrested
Meanwhile, the former head of the country’s anti-terror agency has been arrested on charges of trying to topple the government in the wake of violent protests in Kazakhstan. The President has blamed terrorists backed from abroad for these demonstrations. The National Security Committee announced the arrest of Karim Massimov on Saturday. Massimov was fired this week by President Kasim-Jomart Tokayev as the head of the National Security Committee. Authorities said 26 protesters were killed and 18 law enforcement officers killed in action by security officers against dissent this week.

The Home Ministry said on Saturday that more than 4,400 people have been arrested. These are the worst demonstrations in the Central Asian country since Kazakhstan’s independence from the Soviet Union in 1991. Protests against the nearly doubling of prices of a particular variety of vehicle fuel spread across the country. The Collective Security Treaty Organization, a Russian-led military alliance of six former Soviet nations, has approved the sending of 2,500 peacekeeping forces, mostly Russian forces, to Kazakhstan at Tokayev’s request.

given the right to fire at people
Tokayev said on Friday that he had given security forces the right to fire at those involved in the demonstrations. The Russian agency Sputnik said there were no reports of unrest in Almaty on Saturday, but police detained some people involved in the demonstration in the city of Aktau. Apart from this, gunshots were heard at some places in Kijilorda.

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