Kazakhstani Crypto Miners Are Facing an 'Energy Crunch' As Exiled Chinese Miners Flock In

Source: newsbreak.com newsbreak.com

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Cryptocurrency miners in Kazakhstan are facing power outages as Chinese miners flock to the country because their nation has made crypto mining illegal , according to the Financial Times . Back in September of 2020, China's central bank declared all cryptocurrency-backed transactions illegal within its borders, arguing for the ban of the digital currency amid national concerns about the country's borders and "safety of people's assets." “It has been days since my machines have been online,” Matthew Heard, a software engineer from San Jose, told the Financial Times . “During the last week, even if my machines do come on,...