Bitcoin took a hit on Thursday after the internet in Kazakhstan was shut down amid intensifying violence. Last year, the nation became the world’s second-largest center for bitcoin mining after the United States, according to the Cambridge Centre for Alternative Finance, after China, a major hub, clamped down on crypto mining activity. As of August, Kazakhstan was hosting 18% of global bitcoin mining, according to Fortune. Kazakhstan’s crypto mining farms are mostly powered by ageing coal plants which themselves – along with coalmines and whole towns built around them – are a headache for authorities as they seek to decarbonize the economy. According to the International Energy Agency, Kazakhstan’s emissions per energy unit are higher than what China’s used to be.

Source: The Guardian January 06, 2022 23:04 UTC