{"id":149114,"date":"2022-01-07T13:27:26","date_gmt":"2022-01-07T13:27:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=149114"},"modified":"2022-01-07T13:27:26","modified_gmt":"2022-01-07T13:27:26","slug":"chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report\/","title":{"rendered":"Chinese crypto miner BIT Mining \u2018unlikely\u2019 to flee Kazakhstan: Report"},"content":{"rendered":"

Despite\u00a0major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet.<\/p>\n

BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry news agency 8BTCnews\u00a0reported Friday.<\/p>\n

\u201cIt is unlikely that our mining machines will be evacuated to North America,\u201d a spokesperson for BIT Mining reportedly said, adding that the firm will be closely monitoring the situation.<\/p>\n

The representative also noted that Kazakhstan is not BIT Mining\u2019s main area of business, as it has a number of \u201cmid-to-high-end mining machines\u201d deployed in North America. \u201cIt is unlikely that the machines will be withdrawn from Kazakhstan to North America, and further actions will be disclosed,\u201d the report said.<\/p>\n

According to some sources, Kazakhstan-based miners have managed to keep their units online despite the internet outages.<\/p>\n

\u201cSome Kazakhstan miners told us that the internet was temporarily restored on January 7th. In addition, the 4G network of Chinese phones is also intermittently effective. The industry expects that the country may return to normal next Monday,\u201d Chinese blockchain journalist Colin Wu reported Friday.<\/p>\n

Sources also said that some miners\u2019 operations were unaffected because they are mostly located in remote areas, while protests were concentrated in the urban area of Almaty. \u201cIt has not been heard that any miners have been robbed, but they cannot mine because of the network interruption,\u201d Wu reported.<\/p>\n

According to the latest data from network stability data provider NetBlocks, the internet in Kazakhstan had been shut down for 36 hours by Friday morning, with connectivity levels standing at 5%.<\/p>\n

Related: <\/em><\/strong>Top Bitcoin mining country Kazakhstan turns off internet amid protests<\/em><\/strong><\/p>\n

But despite the ongoing nationwide blackouts, unrest in\u00a0Kazakhstan appears to have had little to no effect on the global Bitcoin hash rate, according to some sources. Data from major Bitcoin blockchain explorer Blockchain.com suggests that the total Bitcoin hash rate has not dropped at all since the beginning of 2022.<\/p>\n

<\/p>\n

BIT Mining and other major Kazakhstan mining services operators such as the Chinese firm Canaan\u00a0did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite\u00a0major internet blackouts amid anti-government protests in<\/p>\n","protected":false},"author":3,"featured_media":149113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nChinese crypto miner BIT Mining \u2018unlikely\u2019 to flee Kazakhstan: Report - 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\/crypto\/chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese crypto miner BIT Mining \u2018unlikely\u2019 to flee Kazakhstan: Report - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Despite\u00a0major internet blackouts amid anti-government protests in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-07T13:27:26+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\/Chinese-crypto-miner-BIT-Mining-\u2018unlikely-to-flee-Kazakhstan-Report.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/chinese-crypto-miner-bit-mining-unlikely-to-flee-kazakhstan-report\/\",\"name\":\"Chinese crypto miner BIT Mining \u2018unlikely\u2019 to flee Kazakhstan: Report - 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