According to Xive co-founder Didar Beckbau, cryptocurrency mining companies are moving to Russia and the United States.
Mining companies have started to leave Kazakhstan due to power shortages. Coindesk was informed about this by the co-founder of Xive, Didar Beckbau, which closed a data center for 2.5 thousand mining installations in the southern part of the country. Other companies are looking for relocation sites, Beckbau said. Basically, miners are moving to Russia and the United States, Beckbau added.
In October, the Kazakh authorities limited the consumption of electricity to miners to 100 megawatts (MW). The measures were introduced due to the power shortage, which was provoked by the massive influx of miners into the country.
According to the Cambridge Center of Alternative Finance, Kazakhstan ranked second in the world in bitcoin mining in August. This happened after miners left China en masse due to the introduction of strict restrictive measures against cryptocurrencies. After that, the United States took the first place in the production of bitcoin in the world, and Russia took the third place.