Kazakhstan becomes world’s second largest crypto miner after Chinese ban | Video

Nur-Sultan, Dec 10 (EFE).- Kazakhstan has gained ground in cryptocurrency mining to become the second largest producer in the world, after China, which was the largest, banned the activity, forcing mining companies into exile.

"This is due to the actions of the Chinese government, which banned cryptocurrency mining and markets. This led to a large number of mining farms moving from China to Kazakhstan," Sapar Akhmetov, a representative of the Association of Blockchain Technologies in the Central Asian nation, told Efe.

Cambridge University’s Center for Alternative Finance estimates that the United States currently mines 35.4 percent of cryptocurrencies globally, followed by Kazakhstan, which produced 18.1 percent in August, ahead of Russia with 11.2 percent. (Camera: KULPASH KONÍROVA/ALIAKPAR KADYRBAEV).

SHOT LIST: A CRYPTO MINER IN KAZAKHSTAN.

Metadata

Date: 11/12/2021 12:00 (UTC)
Credit: EFE
Source: EFE
Topic: Economy, business and finance
Type: Ready-to-use
Duration: 50 seconds
Reference: 7001128507
Relevance: Normal