Reports of a Chinese mining firm fleeing Kazakhstan in the wake of falling crypto prices have been dismissed by BIT Mining’s founder. Over 30% of mining is now powered by ASIC chips, but most miners are still using GPUs to mine because they are more affordable and less power-consuming.,

The “eurasianet” is reporting that the Chinese crypto miner BIT Mining is unlikely to flee Kazakhstan. The company was raided by Kazakh authorities in September 2018 and has been accused of violating the country’s anti-money laundering laws.

Chinese crypto miner BIT Mining ‘unlikely’ to flee Kazakhstan: Report

Despite widespread internet disruptions in Kazakhstan due to anti-government rallies, some Bitcoin (BTC) miners are not planning to leave the country just yet.

According to Chinese industry news outlet 8btc, BIT Mining, one of the top BTC mining businesses that shifted operations from China to Kazakhstan last year, is currently assessing the effect of political upheaval in Kazakhstan.

“Our mining equipment are unlikely to be moved to North America,” a BIT Mining spokeswoman allegedly stated, adding that the company would keep a careful eye on the situation.

The official also said that Kazakhstan is not BIT Mining’s primary market, since the company has a lot of “mid-to-high-end mining equipment” in North America. “It is doubtful that the computers would be moved from Kazakhstan to North America,” the report said, adding that “future steps will be announced.”

Despite the internet interruptions, Kazakhstani miners have managed to keep their units online, according to some reports.

“On January 7th, several Kazakhstan miners notified us that the internet was momentarily restored. Furthermore, the Chinese phone’s 4G network is only partially functional. According to Chinese blockchain writer Colin Wu, “the industry expects the nation to return to normal next Monday.”

According to sources, some miners’ activities were unaffected since they were largely in distant locations, while the demonstrations were centered in Almaty’s metropolitan area. “There have been no reports of miners being robbed, but they are unable to mine due to the network outage,” Wu stated.

According to the most recent statistics from network stability data source NetBlocks, Kazakhstan’s internet had been down for 36 hours by Friday morning, with 5 percent connection.

Update: It’s now Friday morning in #Kazakhstan, where the internet has been down for 36 hours, putting public safety in jeopardy and cutting off friends and relatives.

Connectivity levels have remained unchanged at only 5% of normal levels. Report:

January 6, 2022 — NetBlocks (@netblocks)

Kazakhstan, a top Bitcoin mining nation, has turned down the internet due to protests.

Despite the continued nationwide blackouts, according to some reports, the disturbance in Kazakhstan seems to have had little to no impact on the worldwide Bitcoin hash. According to data from leading BTC blockchain explorer, the overall BTC hash rate has remained same since the beginning of 2022.

Chinese crypto miner BIT Mining ‘unlikely’ to flee Kazakhstan: Report30-day graph of the total BTC hash rate. is the source for this information.

Cointelegraph reached out to BIT Mining and other prominent Kazakhstan mining service providers, like the Chinese business Canaan, for comment.

Watch This Video-

The “eurasianet kazakhstan” is a report that states the Chinese crypto miner BIT Mining ‘unlikely’ to flee Kazakhstan. The company was accused of stealing electricity and using it in their mining operation.

  • svevind kazakhstan
  • central asian news
  • kazakhstan hydrogen
  • bitcoin mining setup
  • what does mining crypto mean