Kazakhstan the Third Biggest Bitcoin Miner in the World

Kazakhstan remains the third-biggest Bitcoin (BTC) miner in the world.

According to the data shared by the Cambridge Centre for Alternative Finance, as of January 2022, Kazakhstan is responsible for 13.22% of Bitcoin hash rate. In front of Kazakhstan on the list is the United States with 37.84% and China with 21.11%.

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Kazakhstan first got into the list of Top3 Bitcoin miners in February 2021, maintaining its position throughout the year.

Further data revealed that Kazakhstan’s estimated absolute hash rate, considering the monthly average, is 24.8 exhashes per second (Eh/s). The United States contributed 71 Eh/s, with China adding 36.9 Eh/s.

According to the same data in the United States, the largest Bitcoin (BTC) miners can be found in Georgia, taking up 30.8% of all hash rates. Texas and Kentucky are next in line with 11.2% and 10.9%, respectively.

If broadening the scope of Bitcoin miners, the data reveals that other significant players in Satoshi Nakamoto’s crypto mining are Russia, Malaysia, Iran, Canada, Ireland, and Germany. 

However, the researchers noted that “there is little evidence of large mining operations in Germany or Ireland that would justify these figures. Their share is likely significantly inflated due to redirected IP addresses via the use of VPN or proxy services.”

At the end of September, the news broke that Kazakhstan’s President Kassym-Jomart Tokayev stated that Kazahstan is ready to consider crypto conversion to cash if there is considerable demand.