Kazakhstan became last year the world's second-largest centre for bitcoin mining after the United States,, after major hub China clamped down on crypto mining activity.
The internet was on Wednesday shut down across the country in what monitoring site Netblocks called "a nation-scale internet blackout."Bitcoin and other cryptocurrenices are created or "mined" by high-powered computers, usually at data centres in different parts of the world, which compete to solve complex mathematical puzzles in a highly energy-intensive process.
Bitcoin fell below US$43,000 on Thursday, testing multi-month lows after investor appetite for riskier assets fell as the U.S. Federal Reserve leant toward more aggressive policy action. Kazakhstan's crypto mining farms are mostly powered by aging coal plants which themselves - along with coal mines and whole towns built around them - are a headache for authorities as they seek to decarbonise the economy.
Why this is a thing I don't know. You can't use it to buy anything anywhere and banks don't accept it plus it burns more power that costs more to mine than the value of what you mine. Stupid basically.
This is all fake news
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