Kazakhstan remains the third largest contributor to Bitcoin for over a year.
A significant part of China’s dominant power in crypto mining fell into the hands of Kazakhstan after the bans. The country, which is in the top row in Bitcoin mining, is also among the countries that contribute the most to Bitcoin.
Kazakhstan Among Top Contributors to Bitcoin Mining
Kazakhstan, which left Russia behind in Bitcoin mining in February 2021, manages to maintain and develop its position.
Kazakhstan, recently; announced that it would only allow crypto mining companies registered with the Astana International Financial Center (AIFC) or non-resident organizations that have agreements with licensed data centers. As the country’s work on crypto mining is increasing, its activities are increasing equally.
As of January 2022, Kazakhstan contributed 13.22 percent of the total Bitcoin hash rate, positioning just behind the United States (37.84 percent) and China (21.11 percent).
Cambridge Center for Alternative Finance data estimates Kazakhstan’s absolute hash rate contribution (monthly average) to be 24.8 exahash per second (Eh/s). Meanwhile, the US and China contributed 71 Eh/s and 39.6 Eh/s respectively.
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