and these miners didn't seem to install a satellite Internet backup link to the blockchain.
On Thu, Jan 13, 2022, 4:25 AM jim bell <[email protected]> wrote: > https://www.wired.com/story/kazakhstan-cryptocurrency-mining-unrest-energy/ > > > "When Denis Rusinovich set up cryptocurrency mining company Maveric Group > in Kazakhstan in 2017, he thought he had hit the jackpot. Next door to > China and Russia, the country had everything a Bitcoin miner could ask for: > a cold climate, legions of old warehouses and factories where the mining > rigs could be installed, and—especially—dirt cheap energy to power the > electricity-guzzling process through which cryptocurrency is minted. > > “That was a good opportunity,” Rusinovich says. When China outlawed > cryptocurrency mining overnight last June, many miners based in the > country—which at the time made up between 60 and 70 percent of Bitcoin’s > mining network—made the same call and hastily relocated to Kazakhstan, > bringing to the country as many as 87,849 mining machines, according to a > *Financial > Times* <https://www.ft.com/content/086b7ec7-f71a-4214-bfa0-5644852056f3> > estimate. > Less than a year later, the initial buzz is history: Miners are now being > confronted with frozen machines, popular unrest, and Russian troops roaming > across the country. And leaving is not an option. >
