“It’s like night and day,” said Almas Chukin, partner at Almaty-based private equity firm Visor Kazakhstan, which has invested in the construction of renewable energy and data centers. “There’s zero potential for Bitcoin mining at the moment in Kazakhstan.”
Kazakhstan’s Bitcoin-mining boom ended even quicker than it started.
A squeeze in the central Asian nation’s power supply has pushed the government to place big limits on the energy-intensive industry. The rapid reversal has eliminated one of the cheapest places to mine the cryptocurrency just as Bitcoin's rise this year has made the process more profitable.
