Kazakhstan Among Top 3 Bitcoin Mining Destinations After USA and China
Bitcoin's top three hash rate contributors continue to eat away at other players, such as Malaysia, Germany, and China. 'Iran.< /p>
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For more than a year, oil-rich Central Asian country Kazakhstan has maintained its position as the third largest contributor to Bitcoin (BTC) mining after overtaking Russia in February 2021.
>In January 2022, Kazakhstan contributed 13.22% of Bitcoin's total hash rate, ranking just behind historical leaders the United States (37.84%) and China (21.11%) ), as shown below.
In similar time frames, Cambridge Center for Alternative Finance data estimated that Kazakhstan's absolute hash rate contribution (monthly average) was 24.8 exahashes per second (Eh/s). Meanwhile, the United States and China contributed 71 Eh/s and 39.6 Eh/s respectively.
The International Energy (IEA), which is co-funded by the European Union, highlighted Kazakhstan's heavy reliance on non-renewable energy, such as oil (more than 50%), coal (28%) and natural gas (17%) through 2020. The study found:
"Most coal is used for electricity and heat generation, while most oil is used by end consumers, especially in road transport."
However, the top three contributing countries to the Bitcoin hash rate continue to eat away at other players, such as Malaysia, Germany, and Iran. Kazakhstan was among the first to welcome displaced Chinese miners when the Chinese government imposed a blanket ban on Bitcoin and crypto mining and trading.
China resumed mining operations in September 2022, but the temporary mining ban removed the country's position as the largest Bitcoin mining hub, putting the US at the top ever since.< /p>
Related:
Bitcoin's top three hash rate contributors continue to eat away at other players, such as Malaysia, Germany, and China. 'Iran.< /p>
New
For more than a year, oil-rich Central Asian country Kazakhstan has maintained its position as the third largest contributor to Bitcoin (BTC) mining after overtaking Russia in February 2021.
>In January 2022, Kazakhstan contributed 13.22% of Bitcoin's total hash rate, ranking just behind historical leaders the United States (37.84%) and China (21.11%) ), as shown below.
In similar time frames, Cambridge Center for Alternative Finance data estimated that Kazakhstan's absolute hash rate contribution (monthly average) was 24.8 exahashes per second (Eh/s). Meanwhile, the United States and China contributed 71 Eh/s and 39.6 Eh/s respectively.
The International Energy (IEA), which is co-funded by the European Union, highlighted Kazakhstan's heavy reliance on non-renewable energy, such as oil (more than 50%), coal (28%) and natural gas (17%) through 2020. The study found:
"Most coal is used for electricity and heat generation, while most oil is used by end consumers, especially in road transport."
However, the top three contributing countries to the Bitcoin hash rate continue to eat away at other players, such as Malaysia, Germany, and Iran. Kazakhstan was among the first to welcome displaced Chinese miners when the Chinese government imposed a blanket ban on Bitcoin and crypto mining and trading.
China resumed mining operations in September 2022, but the temporary mining ban removed the country's position as the largest Bitcoin mining hub, putting the US at the top ever since.< /p>
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