The Mining Pod | Bitcoin Mining News
The Rise and Fall of Bitcoin Mining in Kazakhstan w/ Didar Bekbau
Apr 15, 2025
Didar Bekbau, CEO of Xive, dives deep into Kazakhstan’s Bitcoin mining landscape, which soared to 18% of global hashrate post-China's mining ban. He discusses the devastating impacts of outdated Soviet-era infrastructure and rising electricity taxes, forcing miners to flee to Russia and the US. Didar also highlights the potential for a mining revival in Kazakhstan through strategic investment and planning. The conversation reveals the intricate balance between energy supply and the demands of the mining industry amidst ongoing regulatory challenges.
34:24
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Quick takeaways
- Kazakhstan's Bitcoin mining peaked at 18% of the global hashrate in 2021 before declining drastically due to government restrictions and outdated infrastructure.
- Future revitalization of Bitcoin mining in Kazakhstan depends on strategic government planning, modernization of energy resources, and supportive regulatory frameworks.
Deep dives
Current State of Bitcoin Mining in Kazakhstan
The Bitcoin mining industry in Kazakhstan has significantly declined, reducing operations by about 90% since its peak. As of now, only a fraction of miners remain, with many having relocated to countries like the United States and Russia due to unfavorable conditions. Large mining operations, such as Energex, have also faced difficulties, running only a fraction of their planned capacity. Smaller miners have mostly ceased operations, highlighting the stark downturn in an industry that was once flourishing in Kazakhstan.
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