Kazakhstan Police Shut Down Another Crypto Farm Amid Ongoing Crackdown on Mining

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Kazakhstan Police Shut Down Another Crypto Farm Amid Ongoing Crackdown on Mining – Kazakhstani law enforcement agents have busted another mining site as part of their ongoing crackdown on criminal operations in the industry. The crypto farm, located near a train station, is the country’s most recent targeted mining operation, which has been affected by a power outage.

Kazakhstan has been trying to restrict activities in its crypto mining business, which has developed rapidly since China launched an onslaught on the industry in May 2021.

Despite the fact that the energy-hungry firm as a whole has been blamed for power shortages and blackouts, the government has concentrated mostly on unlicensed miners this year.

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According to an official declaration, law enforcement agents raided another facility minting digital currency after shutting down over 100 crypto farms, including registered mining businesses that “voluntarily” suspended operations. The farm was set up in a room on the premises of the Kundyzdy train station, according to 24 Khabar.

According to the country’s Transport Police Department, which conducted the search, officers uncovered 130 crypto mining machines, as well as hard drives and replacement components.

As part of its efforts to address its growing energy shortage, Kazakhstan has resorted to target mining activities. Kazakhstan has begun to target mining operations as part of its drive to deal with its growing energy deficit. Kazakhstan was once an appealing location for crypto miners moving out of China due to its restricted electricity tariffs.

During the frigid winter months, some illegal farms were removed from the grid, and many registered enterprises had power disruptions. The local press has reported on the crackdown.

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In February, President Kassym-Jomart Tokayev issued an order requiring the Financial Monitoring Agency, with the help of other government agencies, to identify all mining companies. A number of inspections have been carried out by the watchdog to verify custom, tax, and technical documentation.

Due to political instability in January and continuous power disruptions, some mining companies have already gone to other countries, such as the United States. In late February, the National Association of Blockchain and Data Center Industry revealed that authorized miners had already moved a third of their equipment out of Kazakhstan, warning that Kazakhstan’s advantage in terms of bitcoin network computing power could be lost.

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