As Kazakhstan Descends Into Chaos, Crypto Miners Are at a Loss | WIRED

[Steven Schear]

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 <jdb10987 at yahoo.com> 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.
>
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