Bitcoin shed as much as eight per cent and tumbled under $41,000 (€36,000) as investors sold off their cryptos. That happened in part due to the Kazakhstan crisis but also because of the minutes released by the US central bank showing it would tighten monetary policy.
Netblocks said Internet disruption in Kazakhstan continued on a nationwide scale as of Friday morning, with national connectivity observed at just 5 percent of ordinary levels.
The sudden raised energy price is the reason for the ongoing disruptions and widening protests in the western town of Zhanaozen.
Kazakhstan’s government has tried to tighten rules on mining in recent months in an effort to decarbonise the economy. The country recently implemented a law to introduce extra taxes from crypto mining that will take effect this year.
“Yes, no internet, so no mining…Hopefully next week everything will be ok”.
Some miners are optimistic the political storm will blow over.