Kazakhstan internet shutdown deals blow to global bitcoin mining operation

Bitcoin took a hit on Thursday after the internet in Kazakhstan was shut down amid intensifying violence.

The central Asian nation in recent days has been rocked by violent clashes between protesters, police and the army. The protests began in the west of the country over the weekend, after a sharp rise in fuel crisis, and quickly spread through cities across the nation.

The internet was shut down nationwide on Wednesday. And though the intent appeared to be to disrupt the protesters’ communications, the effects of the blackout have spread further.

Kazakhstan is a power player in the bitcoin world. Last year, the nation became the world’s second-largest center for bitcoin mining after the United States, according to the Cambridge Centre for Alternative Finance, after China, a major hub, clamped down on crypto mining activity. As of August, Kazakhstan was hosting 18% of global bitcoin mining, according to Fortune.


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