Kazakhstan becomes third largest bitcoin mining country

By bne IntelIiNews July 16, 2021

Cambridge University research published on July 15 by the Cambridge Centre for Alternative Finance showed that China’s share of global bitcoin mining plunged to 46%, down from 75.5% in September 2019.

This boosted Kazakhstan to third largest player in the bitcoin mining industry amid multiple firms fleeing to Kazakhstan from the Chinese government’s crackdowns on cryptocurrency mining.

Kazakhstan saw a nearly sixfold increase in its share of global bitcoin mining in the same period, rising to 8.2% from 1.4%, while the US rose to 16.8% from 4.1% to take the second top spot. Russia and Iran stood as the fourth- and fifth-largest bitcoin mining countries, respectively.

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