Chinese crypto miner BIT Mining ‘unlikely’ to flee Kazakhstan: Report

Despite major
internet
blackouts
amid
anti-government
protests
in
Kazakhstan,
some
Bitcoin
(BTC)
miners
operating
in
the
country
are
not
planning
to
leave
the
country
just
yet.

BIT
Mining,
one
of
the
largest
BTC
mining
companies
that

relocated
operations
from
China
to
Kazakhstan

last
year,
is
still
evaluating
the
impact
of
political
unrest
in
Kazakhstan,
Chinese
industry
news
agency
8BTCnews reported
Friday.

“It
is
unlikely
that
our
mining
machines
will
be
evacuated
to
North
America,”
a
spokesperson
for
BIT
Mining
reportedly
said,
adding
that
the
firm
will
be
closely
monitoring
the
situation.

The
representative
also
noted
that
Kazakhstan
is
not
BIT
Mining’s
main
area
of
business,
as
it
has
a
number
of
“mid-to-high-end
mining
machines”
deployed
in
North
America.
“It
is
unlikely
that
the
machines
will
be
withdrawn
from
Kazakhstan
to
North
America,
and
further
actions
will
be
disclosed,”
the
report
said.

According
to
some
sources,
Kazakhstan-based
miners
have
managed
to
keep
their
units
online
despite
the
internet
outages.

“Some
Kazakhstan
miners
told
us
that
the
internet
was
temporarily
restored
on
January
7th.
In
addition,
the
4G
network
of
Chinese
phones
is
also
intermittently
effective.
The
industry
expects
that
the
country
may
return
to
normal
next
Monday,”
Chinese
blockchain
journalist
Colin
Wu

reported

Friday.

Sources
also
said
that
some
miners’
operations
were
unaffected
because
they
are
mostly
located
in
remote
areas,
while
protests
were
concentrated
in
the
urban
area
of
Almaty.
“It
has
not
been
heard
that
any
miners
have
been
robbed,
but
they
cannot
mine
because
of
the
network
interruption,”
Wu
reported.

According
to
the
latest
data
from
network
stability
data
provider
NetBlocks,
the
internet
in
Kazakhstan
had
been
shut
down
for
36
hours
by
Friday
morning,
with
connectivity
levels
standing
at
5%.



Related:




Top
Bitcoin
mining
country
Kazakhstan
turns
off
internet
amid
protests

But
despite
the
ongoing
nationwide
blackouts,
unrest
in Kazakhstan
appears
to
have
had
little
to
no
effect
on
the
global
Bitcoin
hash
rate,
according
to
some
sources.

Data

from
major
Bitcoin
blockchain
explorer
Blockchain.com
suggests
that
the
total
Bitcoin
hash
rate
has
not
dropped
at
all
since
the
beginning
of
2022.


Total
Bitcoin
hash
rate
30-day
chart.
Source:
Blockchain.com

BIT
Mining
and
other
major
Kazakhstan
mining
services
operators
such
as
the
Chinese
firm
Canaan did
not
immediately
respond
to
Cointelegraph’s
request
for
comment.

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