The Kazakh government has shut down online because the Bitcoin calculator has fallen 13%.

Bitcoin's hashrate fell more than 13%

When the state-owned telecommunications company Kazakhtelecom blocked the internet, the network performance immediately dropped to 2% of its daily height. As mentioned earlier, this decision is not without its downsides in terms of Bitcoin's hashrate.

At the same time, the impact of the closure so far is not far from what is needed. Indeed, the country accounts for 18% of the total hashing operations on the Bitcoin network.

protest story

The reason for the ongoing protests is that the Kazakh government has withdrawn the subsidies for liquefied petroleum gas used for automotive fuel as the current market. The removal of subsidies doubled oil prices overnight and sparked widespread protests across the country.

According to the press, the Internet in Kazakhstan is still paralyzed and it is not known when the Internet will be restored.

At the same time, falling prices have made Kazakhstan a big favorite among Bitcoin miners in recent years. According to international oil prices, the average price of electricity in Kazakhstan for industry is only $ 0.055 per kilowatt hour, while US companies pay a very low price of $ 0.12 per kilowatt hour.