A lot of countries have been benefitting from China ban on cryptos. Due to the ban, countries that made borders with China saw their crypto mining industry boom. Kazakhstan is one of the most recent countries where the crypto mining interest is surging as "at least $1.5B in economic activity from crypto mining within 5 years" is expected to hit the country. The investment that crypto will bring to the country will be a boost for Kazakhstan's development.
Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory. Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner. The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent,
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Kazakhstan to restrict crypto miners amid power shortages
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Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry. Then China offered a reality check this summer when it banned cryptocurrency use and mining on its territory. Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner. The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent