Second largest mining sanctuary in the world, internet connection lost.

The Kazakhstan attacks cut the miners' money.

Recently, a major crisis erupted in Kazakhstan. On January 5, Kazakhtelecom, the country's communications specialist, blocked the country's internet access. The number of powers in many Bitcoin mining pools has declined. Global power in Bitcoin's share fell 12%, while Antpool lost 11.6%. , F2Pool fell 12.8%.

Canaan Technology announced yesterday (January 4) that it has entered into a joint venture mining agreement with several crypto mining companies in Kazakhstan. We manufacture the products locally.

Due to the crisis, blockchain concept shares in the US stock market fell sharply for two consecutive days, and on January 5, small mining fell almost 10%. The ninth cumulative city fell 7.7%. According to public reports, miners such as Canaan Technology, Ninth City, and Bit Mining used more miners in Kazakhstan.

In this regard, a small-scale mining worker said on the 7th: "Kazakhstan's industry is not the only large mining industry, and all small and medium-sized mining machines are used in North America. The technology is unlikely to be shipped from Kazakhstan to North America and further work will be introduced. ~

Tens of thousands of miners deployed in Kazakhstan

On January 4, 2022, Canaan Technology announced that as of December 31, 2021, 10,000 Avalon mining machines were operating online in Kazakhstan and would continue to use more Chinese power as planned.

According to the report, Canaan Technology has been working with mining farms in Kazakhstan since 2019. Canaan Technology has also opened a bone logistics channel from China to Kazakhstan and provided customers with one-stop customs clearance.

In June 2021, Canaan Technology released its financial statements for the first quarter of 2021, showing that its sales in overseas markets were 78.4% in the first quarter of 2020, compared to only 4.9% in the same period. .

Canaan Technology announced that it will establish its first overseas after-sales service center in Kazakhstan on June 8, 2021 to provide long-term after-sales service such as inspection, maintenance and technical support of mining machines.

Canaan Technology Chairman and CEO Zhang Nangeng said that in the past the company had headquartered in Singapore to specialize in mining, and the company's employees were considering expanding the private mining business in the country. Kazakhstan.

Canaan Technology announced on June 23 that it announced its own mining industry in Kazakhstan and commissioned the first mining technology operation.

According to the August 2021 announcement, Ninth City has signed a joint venture agreement with two local Kazakh companies to create a joint venture, beyond which Ninth City has control. Minors referred to The Ninth City and its affiliates or The Ninetowns are essential for referrals. According to the announced plan, integrated mining is expected to reach a total of 300 MW by the end of 2022 and 175 MW by the end of 2021, and 5EH / S.

Bit Mining announced that it purchased 2,500 new Bitcoin miners in July 2021 and planned to ship them to Kazakhstan for distribution. The machine was sent to a data center in Kazakhstan for shipment.

According to the "Global" magazine, miners such as Bitmain, Microbit and Microbit are also involved in mining operations in Kazakhstan.

In March 2021, China's Inner Mongolia Autonomous Region announced "multiple responsibilities for the completion of the" 14th Five-Year Plan "for dual energy purposes (conceptual image) and beyond. To leave strict restrictions on new virtual currency mining projects that I have completed., virtual currency mining is completely phased out, and the mining project is stopped. Since then, many parts of China have started to reform crypto mining operations -Money Since then, the main mines of the big miners have moved abroad.

The future of mining stations is questionable

Kazakhstan in Central Asia has many advantages due to its annual low temperature, and the government is actively promoting the legalization of cryptocurrency mining with electricity costs below 0.2 yuan per kWh. Kazakhstan has become a local mining industry and a place for traders to go to sea.

The extensive economy is an important reason for the Kazakh government to promote mining. According to Xinhuanet, cryptocurrency mining is expected to bring in over $ 1.5 billion in market revenue and over $ 300 million in taxes in Kazakhstan over the next five years. You can double this number, including "gray" mines. As one Kazakh put it, "It is a huge industry and Kazakhstan cannot cross it."

2021 is a year of rapid growth for Kazakhstan's mining industry, according to a cryptocurrency market study published by the University of Cambridge, since August 2021, Kazakhstan's global share in the computing power of Bitcoin Mining in Kazakhstan is the same as last year. 4.57% of it rose to 18.1%, just behind the United States (35.4%).

In a meeting with the Energy Council in November 2021, President Tokaev criticized the decline in oil storage in operations, saying the need for continuous monitoring was necessary for the security of businesses and homes. in Kazakhstan. Power source. According to Xinhuanet, parts of Kazakhstan have experienced power shortages due to factors such as increased mining operations.

From October to November 2021, Tokaev repeats the negative attitude towards mining only. He said Kazakhstan's mining potential was the second in the world, but the return on investment was low. Carefully assess the risks and impacts of the business.

Prior to that, Tokaev had a good attitude towards mining. In June 2021, Tokaev also signed an amendment to the tax rules on the taxation of cryptocurrency mining. A new law imposes mining taxes. "Nominal" supplement 1 tenge (approximately 1.5 cents) per kilowatt hour of electricity.

According to the Chinese Ministry of Commerce website, Kazakhstan has started to develop key government regulations banning electricity for "regulatory" purposes. The Kazakh Energy Minister said that the State Grid Corporation of Kazakhstan must legally shut down the energy of “mines” in the event of an energy shortage.

According to CCTV reports, recently reported attacks created a state of emergency across Kazakhstan, the country's internet was shut down, and all financial institutions were shut down. To do their job until a new government ... The unstable situation affects the future of miners in Kazakhstan.

According to CCTV reports, the mobile phone signal in Tanalmaty, the largest city in Kazakhstan, returned on the afternoon of January 9, when the signal was interrupted for nearly four days, but the phone communication is Always disconnected and I don't know what to do. . long as it takes. Signal recovery takes a long time.