{"id":149112,"date":"2022-01-07T12:48:35","date_gmt":"2022-01-07T12:48:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=149112"},"modified":"2022-01-07T12:48:35","modified_gmt":"2022-01-07T12:48:35","slug":"bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/","title":{"rendered":"Bitcoin miner CEO: Industry is moving toward carbon neutral"},"content":{"rendered":"<p><cite>New Delhi (CNN Business)<\/cite>Political turmoil in Kazakhstan is hitting the country&#8217;s vast bitcoin mining industry.<\/p>\n<p>The Central Asian nation plunged into chaos as violent protests sparked by rising fuel prices left<strong> <\/strong>dozens killed and hundreds injured. As part of the mayhem, internet and telecommunications cuts have been reported nationwide \u2014 and that&#8217;s having an impact on local cryptocurrency mining operations, which are<strong> <\/strong>among the largest in the world.<br \/>\nKazakhstan emerged as a popular mining hub last year, after neighboring China cracked down on the activity \u2014 curbs Chinese authorities said were necessary to protect the country&#8217;s efforts to reduce carbon emissions.<\/p>\n<ul><\/ul>\n<p>Cryptocurrency mining is a complicated process by which new coins are entered into circulation. Mining requires high-powered computers that solve complex mathematical puzzles to create a new &#8220;block&#8221; on the blockchain. It requires significant computer power and electricity, and Kazakhstan, with its rich energy resources, became an attractive alternative to China for miners.<\/p>\n<ul><\/ul>\n<p><img decoding=\"async\" alt=\"Goldman Sachs predicts bitcoin could hit $100,000\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/220105111539-05-bitcoin-file-large-169.jpg\"><br \/>\nKazakhstan accounted for more than 18% of the global Bitcoin network hashrate in August last year \u2014 the latest month for which data was available, according to the Cambridge Centre for Alternative Finance. That&#8217;s second only to the United States. Hashrate refers to the total computational power that is being used to mine cryptocurrency, according to CoinDesk. <\/p>\n<p>It is still unclear when internet services will be restored in Kazakhstan, making it hard to know how deeply the impact will be felt by crypto miners. According to internet monitor Netblocks, connectivity had been shut for 36 hours as of Friday morning.<br \/>\nJust a few hours into the internet blackout, the hashrate saw a 12% fall, tweeted Larry Cermak, the vice president of research at crypto website The Block.<br \/>\nInvestors are getting jittery. The price of a single Bitcoin fell to $42,000 on Friday, its lowest level since last September. The cryptocurrency has also been under pressure after the US Federal Reserve signaled it may unwind economic stimulus more aggressively than expected, which has made investors wary of riskier assets.<br \/>\nThe protests in Kazakhstan began over a spike in fuel prices. But there are also other longstanding issues behind the public fury, such as income inequality and economic hardship, which have all been exacerbated during the coronavirus pandemic, according to Human Rights Watch.<br \/>\nThis uprising might lead miners to now look elsewhere for their operations, according to Anirudh Rastogi, founder of tech law firm Ikigai Law, which works with cryptocurrency exchanges in India.<br \/>\n&#8220;It will eventually come down to miners finding the right hub for their activities,&#8221; he said. &#8220;They need a place with political stability and cheap electricity.&#8221;<\/p>\n<ul><\/ul>\n<p>Already, Kazakhstan has been struggling to cope with the huge demands on its energy grid due to the rise in crypto mining, the Financial Times reported in November, adding that power shortages in the country have led to a major crypto mining farm being shut down.<br \/>\nAccording to Rastogi, such problems in major crypto hubs may force the industry to accelerate adoption of more sustainable technology for mining, which consumes much less electricity.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/01\/07\/investing\/bitcoin-mining-kazakhstan-protests-impact-intl-hnk\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi (CNN Business)Political turmoil in Kazakhstan<\/p>\n","protected":false},"author":3,"featured_media":149111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"New Delhi (CNN Business)Political turmoil in Kazakhstan\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-07T12:48:35+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/01\/Bitcoin-miner-CEO-Industry-is-moving-toward-carbon-neutral.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/\",\"name\":\"Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2022-01-07T12:48:35+00:00\",\"dateModified\":\"2022-01-07T12:48:35+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/precoinnews.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin miner CEO: Industry is moving toward carbon neutral\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News","og_description":"New Delhi (CNN Business)Political turmoil in Kazakhstan","og_url":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/","og_site_name":"Pre Coin News","article_published_time":"2022-01-07T12:48:35+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/01\/Bitcoin-miner-CEO-Industry-is-moving-toward-carbon-neutral.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/","url":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/","name":"Bitcoin miner CEO: Industry is moving toward carbon neutral - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2022-01-07T12:48:35+00:00","dateModified":"2022-01-07T12:48:35+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/markets\/bitcoin-miner-ceo-industry-is-moving-toward-carbon-neutral\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/precoinnews.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Bitcoin miner CEO: Industry is moving toward carbon neutral"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/149112"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=149112"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/149112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/149111"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=149112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=149112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=149112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}