The BBC traveled to Kazakhstan and prepared a really interesting report on the very important role that the country plays in the cryptocurrency market. In 2021, Kazakhstan became the second-largest country in terms of cryptocurrency mining.
The reason? Kazakhstan largely owes its second position to a giant “mine” hidden in the desert near the city of Ekibastuz. There, in the middle of nowhere, are housed over 50 thousand computers that work 24/7 to their full potential to mine cryptocurrency.
It is a huge undertaking and the BBC reports that young men are working there in harsh shifts of 12 hours a day, without leaving the desert for two weeks in a row, to keep this colossal “farm” running smoothly.
Of course, the huge increase in mining in the country has put pressure on the energy sector, which relies heavily on polluting power stations that release carbon into the atmosphere. This has even led to protests in the country as the price of fuel has increased for ordinary citizens.
Finally, to give you an idea of how gigantic this crypto mining “nest” actually is, recently Kazakhstan’s crypto-mines were denied internet access for five days and this resulted in all cryptocurrency transactions worldwide becoming slower!
Check BBC’s video to learn more about this titanian mining farm.