Energy-rich Kazakhstan is in no mood to leave its position as the third-largest Bitcoin mining hub.
For over a year, the oil-rich Central Asian country of Kazakhstan has maintained its position as the third-biggest contributor to Bitcoin mining after surpassing Russia back in February 2021.
The International Energy Agency , which is co-funded by the European Union, highlighted Kazakhstan’s heavy reliance on non-renewable energy, such as oil , coal and natural gas until 2020. The study revealed: However, the top three countries contributing to the Bitcoin hash rate continue to eat away the share of other players, such as Malaysia, Germany and Iran. Kazakhstan was among the first to welcome the displaced Chinese miners when theChina resumed mining operations in September 2022, but the temporary mining ban stripped the country’s position as the biggest Bitcoin mining hub, placing the US at the top ever since.