Kazakhstan
Kazakhstan is also an essential global Bitcoin mining location, especially following China's crackdown on mining operations. By August 2021, Kazakhstan had secured an 18.1% share of Bitcoin's hash rate, making it one of the top contenders in the industry. Despite its attractive energy prices, the country needs help with power outages from its reliance on coal-based energy sources.
By the beginning of the year, five active mining companies had established operations in Kazakhstan, capitalizing on favorable energy costs and a promising regulatory environment.
However, the country's mining boom has triggered political instability due to power outages caused by increased demand. Almost all of Kazakhstan's energy is generated from coal plants, which presents environmental concerns that need to be addressed as soon as possible.
Additionally, Kazakhstan has recently begun drafting legislation to manage and govern the crypto-mining industry more effectively. These efforts aim to provide stable regulatory laws to support and sustain the growth of mining activities within the country.
