Bitcoin saw its value drop to a three-month low. 🧐 engineering
protest against its government, during which dozens of rioters have been killed by riot police in the city of Almaty, has led to the internet being shut down across the entire nation. The move, carried out by Kazhakstan's government to prevent protesters from organizing and mobilizing, will have likely blocked Kazakhstan-based crypto miners from connecting to the Bitcoin network.According to data from mining company BTC.
The price of Bitcoin, meanwhile, fell below $43,00 on Thursday, a three-month low, which is also partly due to fears over theThe hashrate will likely recover quickly if events following China's ban on Bitcoin mining are anything to go by. In December, we reported that the hashrate had alreadybefore the mining ban, due in part to the aforementioned"great mining migration".
In February last year, EV automaker Tesla made a $1.5 billion investment in Bitcoin, which led to an unprecedented surge in global cryptocurrency investment. However, the company later made a u-turn on its decision to allow crypto transaction citing the digital coin's adverse effect on the environment. Last year, an analysis
showed that the global Bitcoin network consumes more electricity than entire countries, including Argentina and the United Arab Emirates.Just enter your email and we’ll take care of the rest: