Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running


As per Nikkei Asia, Kazakhstan’s president Kassym-Jomart Tokayev has suggested building a nuclear plant to sustain Bitcoin mining in a bid to support the profitable crypto mining activities in the nation 

“Looking into the future, we will have to make an unpopular decision about the construction of a nuclear power plant,” said Tokayev in a bankers meeting held in Almaty last Friday.

Tokayev first discussed the idea of building a nuclear power plant with Russia’s President Vladimir Putin in April 2019. However, the idea could not be acknowledged following the heavy criticism that it received back then. 

The critics were quick to respond, referring to the nuclear plant idea as an “ecological disaster” in the making. Despite growing unease among Kazakh’s citizens, President Tokayev is keen on pursuing the idea and have addressed the apprehension of citizens regarding constructing a nuclear plant as “inappropriate” 

Kazakhstan’s looming power crisis

Kazakhstan boasts low-cost electricity prices that have transformed the country into a popular crypto mining spot. When China imposed a heavy crackdown on Bitcoin mining activities in its country, a large group of ousted miners took refuge in Kazakhstan, where they could mine crypto without excessive government intervention and could make use of its easily accessible and cheap electricity to mine Bitcoin. 

To fuel the growing demand for Bitcoin mining, the country’s energy supply had to double over to accommodate such a large influx of crypto miners.  

According to Cambridge Bitcoin Electricity Consumption Index’s IP data, Kazakhstan controls approximately 35% of Bitcoin mining power, which is second to that of the United States. 

Due to this sudden increase in crypto mining activities in Kazakhstan, the nation is now facing a heavy power crisis where its citizens are now experiencing frequent power outbreaks. 

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CMF North America: The Current State and Future of the Cryptocurrency Mining Industry

On April 13, Bitmain held the Crypto Mining Forum (CMF) online for the North American Region. Antminer, AntPool, along with key customers and strategic partners all participated in the forum to deliver solid speeches and panels, aiming at bringing together the top leading mining companies’ insights on the current state and the future development of the cryptocurrency mining industry in the region.

Bitmain, Antminer, and AntPool Continues to Empower Users
and Mining Industry

The cryptocurrency mining industry has entered a new stage of
maturity and stability. Since Bitmain’s establishment in 2013, the company
has spared no efforts to develop advanced technologies and innovations to move
the industry forward.

Main Speakers

At the forum, Irene Gao, Sales Director of NSCA, Antminer, announced the new global sales strategy from Bitmain. The company will adopt an ordering method with insured clauses for users. To better meet the growing market needs for mining hardware, Antminer recently introduced an annual batch order purchase for the Antminer S19j Pro. Featuring a strong hash rate at 100 TH/s and a low energy efficiency ratio of 29.5 J/TH, the miner can truly bring a long-term investment value to customers.

Eric Wang, North American Operations Manager at AntPool, introduced the mining pool development. According to Eric, in recent years, he has witnessed a significant hash rate growth in the region and forecasts that the region will continue to grow.

To better empower miners, Bitmain announced at the CMF, the
company will develop a global mining map to assist customers in finding the
best/new locations for new facilities set-up. Besides, Bitmain will establish
more cooperative mining centers in North America to empower the industry to
flourish and promised to meet the goal of repairing miners in the region to achieve
a turnaround time (TAT) of 3 days. As the world’s leading cryptocurrency mining
platform, AntPool will continue to provide miners with more easy-to-use, safe
and efficient services, bringing rich and transparent income for miners.

Foundry: Hardware Becomes the Focus of Bitcoin Mining

Michael Colyer, CEO of Foundry, the cryptocurrency mining subsidiary of Digital Currency Group (DCG), shared his observations and predictions on the current mining market. He said that due to the continuous advancement of Bitcoin mining technology, the mining industry’s demand for chips is competing with other cutting-edge technology companies such as Samsung and Apple, resulting in insufficient global chip supply and a situation of grabbing chip resources. Meanwhile, institutional miners have entered the game, making it harder for people to get miners, and resulting in more competition as intuitions have strong access to investments.

The specialty of the North American market is that companies have
access to capital markets. Therefore, more and more companies are planned to go
public in the next six months. Moreover, many energy companies have also begun
to investigate the Bitcoin market, considering its huge growth potential and
will be become more active over time.

In terms of the industry opportunity, Michael pointed out mining hardware
will be a great investment option, as most of the mining products can continue
to operate for 4-5 years, which will bring a long-term investment value to

State of Mining
2021: Large Scale Operation with Green Development

Panel Discussion 1 Speakers

Moderated by BitOoda CEO Tim Kelly, Core Scientific Chief Customer Success
Officer Russell Cann, Greenidge Chief Mining Officer Greg Ohanessian, Crusoe
Energy CEO & Co-founder Chase Lochmiller and Crusoe Energy President & Co-founder
Cully Cavness joined the panel themed in the State of Mining in 2021.

At the panel, discussers pointed out that as more and more users and institutions have joined the camp, the mining industry is no longer as fragmented and rough as the “wild west”, but it is now moving forward into a stage of institutional miners at a large scale. At present, larger financialization is happening in the space, which increases ways to finance the industry such as debt financing.

Moreover, mining companies pay more attention to relevant regulations and will also increase investment in environmental friendliness. The panel highlights that driving green energy for mining will bring more opportunities and will be crucial for the future.

In the United States, there is an interrelationship between energy and mining. Experts predict that the use of renewable energy and innovative technologies will become a new trend in the development of the mining industry. On one hand, more miners will attach more importance to the relations between mining and sustainable energy and will use renewable energy to promote the reduction of power consumption. On the other hand, the development and application of immersion mining technology is a future trend to keep an eye out for, which can effectively improve energy efficiency ratio of mining hardware, prolonging the life of miners, and provide mining companies with opportunities to open in better mining locations since favorable mining locations are usually in harsh environments.

Energy suppliers also starting to understand the mining industry’s demands,
providing more resources and services for large-scale digital mining. Hosting
service is also growing, as it comes with advantages such as low electricity
prices and professional management.

In the next few months, miners should consider that more hash rate will be
added once mining companies receive their future orders, which can affect the
profitability of mining. Altcoins, which provide different innovations, can be
considered, nevertheless, Bitcoin will be the core cryptocurrency from a long-term

Trends & Innovation: New Business Model and the Influx of

Panel Discussion 2 Speakers

Gemini Asia Pacific Business Development Bureau
Director Eugene Ng, Atlas Mining Founder Raymond Yuan, DMG CEO Sheldon Bennett,
Clean Spark CEO Zachary Bradford, and Luxor Co-founder & CFO Ethan Vera
discussed and predicted the mining trend and innovations at the second panel.

The panel pointed out the new trends in the mining
industry. First, the adoption of cooling system leads the new trends, as
immersion cooling provides the same hash rate with less power consumption.  Far more important, driven by the vigorous
development of the Bitcoin mining industry along with multiple favorable
factors, a large number of new investment institutions have entered the market,
bringing in a new business model, i.e., the financialization of hash rate.

The influx of investors and institutions is just
the beginning. When more speculators participate in the cryptocurrency mining field
on a large scale, it will open the door for other digital currencies, and the
cryptocurrency market will usher in more opportunities. In terms of
technological innovation and application, topics were discussed at the panel around
software upgrades, financial tools, and energy improvements to reduce mining

The North American session of the Cryptocurrency Mining Forum was successfully concluded. The CMF Forum is a series of global events held by Bitmain, aiming to build an information-sharing platform for the global mining industry’s discussion, prediction, and prosperity. The forum has been successfully held in Miami, Toronto, Kuala Lumpur, and in other cities before, which has gained extensive support and large popularity from Bitmain’s customers, partners, and miners around the world. Soon, the CMF Forum will set sail again in Europe (online), let us look forward to more exciting insights brought by the European section!

Video link to CMF North America

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Role of Rising NFT & DeFi Hacks in the Evolution of Cryptocurrency Industry

Decentralized finance, popular as DeFi, has massively revolutionized traditional finance by creating a decentralized space for users to interact with various financial elements while maintaining control over their finances and privacy.

Built on the foundations of decentralization and immutability, DeFi has now pulled in millions of users. This has caused the market to experience a growing streak that has caused DeFi to be valued at $165.10 billion. However, this decentralized finance trend comes at a cost largely caused by users’ lack of knowledge and understanding of best practices within the market.

The popularity of the DeFi market is growing as more people are starting to understand that a smart contract can be a worthy alternative to a traditional loan or bank deposit. The amount of funds locked in DeFi reflects market adoption among private investors who are moving their money from the traditional financial system to the decentralized industry.”


Hackers – a looming threat over DeFi

On the other hand, despite being a relatively new addition to the cryptocurrency market, Non-Fungible Tokens (NFTs) have not been spared by the notorious hackers that continue to threaten projects within the cryptocurrency industry. From art to music, NFTs represent unique, unchangeable pieces of assets stored on the blockchain. NFTs popularity has artists like Beeple selling their NFT artwork at $69 million.

DeFi and NFT Hacks in 2021

According to data by AtlasVPN, in the first half of 2021, DeFi related hacks and fraud cases had caused a loss of over $600 million, a 76% of all major hacks.  Decentralized finance crypto stolen during DeFi hacks includes $266 million in Ethereum tokens, $253 million tokens on Binance Smart Chain, and $85 million in USDC from the Polygon network.

These figures surpass the 2020 total figures by 180%. During this period, numerous protocols became vulnerable to these attacks, PancakeBunny was far more affected, losing about $45 million worth of crypto assets. Others include the Yearn finance flash loan attack, EasyFi hack, PAID Network major loss, Spartan Flash Loans hack, and Uranium Finance Token migration hack.

Earlier this year, Nifty Gateway, a popular marketplace for NFT tokens, was hacked, leading to huge losses. Weeks later, a Banksy fan collector bought a ‘fake’ NFT for over $335k in an alleged hack.

SWOT analysis of Cryptocurrency Industry

While these attacks have caused a significant loss to the DeFi and NFT industries, these numbers are a small fraction compared to the massive growth experienced in the cryptocurrency market. In the last few years, the growth in the market has resulted in the creation of the cryptocurrency industry 4.0.

2021 has indeed been a big year for the cryptocurrency industry as Bitcoin, and other cryptocurrencies hit new all-time highs. The cryptocurrency industry’s worth has reached a new record high of $0.4 billion. The impact of upcoming cryptocurrencies on the financial industry has experts predicting this number to reach $1.2 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 21.5%. The consolidated reality is that cryptocurrencies are no longer a simple phenomenon of the moment.

In addition to the rise in price, the cryptocurrency market has seen lower trading volatility as crypto bull runs signals help the market mature. This has been fundamental in helping increase trust among investors who now more than ever are eager to take their share of the cryptocurrency market.

Industry Specific Cryptocurrency 

Increased digitalization and immense transparency across the blockchain industry have also been an added advantage in helping to create the cryptocurrency industry 4.0. In line with this, the industry has also been leveraging other emerging technologies, including the Internet of things (IoT), Artificial intelligence (AI), and many others.

It is worth pointing out that legislation and approval of cryptocurrencies in various jurisdictions has also helped push the cryptocurrency market further. Through their central banks, some governments have also issued their Central Bank Digital Currencies (CBDC).

Adding on these advantages, the cryptocurrency market has provided users with various opportunities, including creating industry-specific cryptocurrencies. An Industry specific cryptocurrency is a digital coin created to target a particular group in the market. By having cryptocurrencies created to fit specific needs, developers and project owners have attracted new investors who were still skeptical about joining the market.  One industry, in particular, benefiting from this is the gaming industry, which has taken cryptocurrency for the gaming industry to a whole new level.

Must Read: How to Create NFT Art with Zero Coding Experience

Cryptocurrency for Gaming Industry 

Another opportunity within the crypto market will be the growing crypto gaming space that uses blockchain and cryptocurrency technologies to provide gamers with an exceptional gaming experience. In the last few years, online gaming has transformed how gamers interact through metaverses, play-to-earn, and crypto rewards, especially within the cryptocurrency industry.

As aforementioned, the DeFi and NFTs markets are also making significant contributions to the crypto industry in general. The new DeFi models combine NFT technology to overcome the traditional finance market’s shortcomings. For instance, some NFT protocols like NFT20 have gained financial utility by fractionalization and are being used as representation tokens linked to DEX-based liquidity pools.

Wrapping up

All said, over a decade later, cryptocurrencies remain a controversial conversation in different circles. This is more so due to their threats to the general market. In some cases, everything comes tumbling down.

Critics have always argued that the cryptocurrency space is in a bubble phase that will shut investors once it bursts.  In line with this, many users lack knowledge of the crypto industry because they have not taken the time to understand the ins and outs of the cryptocurrency industry. Given its complexity, many users have fallen prey to third parties like hackers and fraudsters that have perfected their acts within the market.

In addition, despite milestones in crypto legislation, consumer protection risks largely remain due to limited disclosure and oversights. Many jurisdictions are yet to embrace digital currencies by placing bans on their use.

While the extent of the adoption of cryptocurrencies is difficult to measure, a SWOT analysis of the cryptocurrency industry suggests that the cryptocurrency market is on the right track.

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Blockchain Gaming Is Here To Stay, But, Is The Industry Facing Talent Scarcity?

Some say that blockchain gaming will inspire the next wave of cryptocurrency adoption. Play-to-earn games are certainly ever-present in headlines and conversations around the world. Are they close to mainstream adoption? Not in the slightest. The industry is just beginning and there’s a long way to go. The companies producing the games are well funded and make incredible amounts of money. However, they don’t seem to have that many employees.

Related Reading | The 100x ROI for Gamezone’s $GZONE Confirms the Viability of Blockchain Gaming

Besides being a nascent industry, blockchain gaming production requires a special set of talents that are not commonly found. This presents an immense opportunity for young students and people looking to pivot and make a career change. Since monetization is built in the ecosystem, chances are blockchain gaming is here to stay. And you can be a part of it. Let’s look at the numbers and you’ll see what we mean. 

How Big Is The Blockchain Gaming Market?

In his report titled “Blockchain Gaming Beginnings: From Crypto Craze To Decentralized Fun,” author Joost Van Dreunen offers concrete numbers: 

  • How many people are playing? “Total addressable audience for blockchain gaming is still in its infancy. Mobile, PC, and console total 1.49 billion monthly actives.”
  • What devices are they using? “The platform of choice is PC, which includes browser-based (40% of total titles), local clients for Windows (16%) and Mac (6%), and Linux (3%)”
  • What blockchains are they interacting with? “The most popular blockchain is WAX (36%), based on an aggregation of top titles organized by protocol. Ethereum (10%) is much less prominent.”
  • However, “The success of Alien Worlds, which counted 1 million users in August, 2021, almost single-handedly accounts for the success for WAX.”
  • “There is a massive difference in popularity among the top titles: Alien Worlds has 59x more players than the #15, Zoo – Crypto World.”

WAXUSD price chart - TradingView

WAX price chart on Bitfinex | Source: WAX/USD on

What Else Do We Know About The Blockchain Gaming Market?

We found even more data for you, let’s dive into the Unique Active Wallets, courtesy of Naavik’s Blockchain Games report:

  • Believe it or not, “DappRadar notes that games accounted for over half of blockchain wallet activity in the third quarter.”
  • Not only that, “blockchain gaming daily unique active wallets (UAWs) averaged 1.2 million in October 2021 or up 44% compared to September.”
  • Let’s dive deeper into those numbers. “The growth in UAW over the past month has mostly been driven by growth in Axie Infinity and Splinterlands wallet activity, which have increased 24% and 57%, respectively.”
  • This one mirrors the previous report. “The top title by monthly UAWs, Alien Worlds, has 10x the activity as the number ten title, Jelly Squish.”
  • September 2021 saw a decline in blockchain gaming, but the numbers are once again looking impressive. “Trading volumes grew 762% quarter-over-quarter in Q3 2021 to $2.32 billion.”

What’s All That Noise About A Talent Shortage?

The wildest stat in Van Dreunen’s report is the number of employees the most successful firms in the space function with. Dapper Labs employs 242, Mythical Games 123, The Sandbox 94. Projects that are on the news all the time suffer the same fate, Decentraland has 52 employees and Open Sea 43. Compare that to, “to 9,500 f/t employees at Activision Blizzard, 11,000 at Electronic Arts, 6,495 at Take-Two Interactive, and 960 at Roblox.”

While we could interpret that the data reveals we’re dealing with efficient companies, Van Dreunen thinks otherwise. “A year-over-year increase of +102% in headcount across top blockchain game devs indicates that talent is likely to become a major bottleneck in search of the killer app.“ It may be so, but, that was until NewsBTC published this article. Young people reading this will realize the immense opportunity it represents and will take the appropriate measures.

Related Reading | Blockchain Gaming Enthusiasts Can Now Swap ATRI Tokens Faster And Cheaper

Remember that, besides in-game monetization, these companies raise money for new projects constantly and with ease. That means, “Abundant investment money will force firms to compete on hiring experienced developers, engineers, and producers in the short term.” They’re dying to hire you. Go and get the necessary knowledge, this story is just starting.

Featured Image: Matryx on Pixabay | Charts by TradingView

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Bitmain Successfully Held the Digital Mining Conference, Gathering Top Experts to Discuss Future of the Industry

Kong, September 13, 2021 –  Bitmain – the world’s leading producer of
cryptocurrency mining hardware successfully held the Digital
Mining Conference on
September 09 in Miami, FL.  Industry
elites, including the world’s leading mining manufacturers, clean energy
suppliers, miner hosting service platforms, and financial companies gathered here
to share new mining industry innovations.

Francis X. Suarez, Mayor of Miami, Maurice Daniel, Chief of Staff to the former US Vice President, Clark Du, Bitmain Mining Division, Vice President of Bitmain, and the founders and CEOs of companies including, Bit5ive, Foundry Digital, Compass Mining, Compute North, Core Scientific, Marathon Digital Holdings, Celsius Network, GryphonDigital Mining, CleanSpark, Greenidge, BlockQuarry, Asic Jungle, Applied Blockchain Inc., Minerset, DELV A Division of Cryptech Solutions, iMining, Monbanc, NFN8 Group LLC., GSV Futures, attended the conference.

Digital Mining Energy Conference Attendees

of digital mining supporters from all over the world watched the live broadcast.
The conference highlighted topics such as green energy mining, mining
globalization, mining infrastructure construction, mining policies, and
regulations in North American.

Francis X. Suarez, Mayor of Miami providing the opening speech of the event

X. Suarez, Mayor of Miami, opened the conference by sharing constructive words
highlighting industry achievements. “Miami is ranked first in the nation
for new tech job growth, creating 8000 jobs, and has moved over 800 billion
dollars of assets under management in the last 16 months. None of these would
be possible without understanding the technological movement, Bitcoin, the
blockchain, and companies like Bitmain mean to power the infrastructure of this
new generation and revolution.”

Irene Gao, BD Director of NCSA Region, Antminer

America has been leading the expansion of digital currency mining on a global
scale. The speech made by Irene Gao, BD Director of North, Central, South
Americal region of Antminer, discussed the development of digital currency
mining and talked about the local advantages in power resources, policies, and
regulations. Gao mentioned how North America still has several disadvantages, such
as slow construction of mining farms and insufficient talent accumulation in
the industry.

To speed
up the construction of mining farms, Bitmain launched its self-developed
air-cooled container, the Antbox N5 V2 in August. At present, the delivery
batches for August and September have sold out already and started shipping to
the United States, and delivery batches for October have begun sales. At the
same time, to match the speed of mining farm construction and strengthen the
training of talents in the industry, the Antminer Maintenance Training Center
(AMTC) has upgraded the miner maintenance training courses and added operations
training and maintenance training courses. At present, the first batch of trainees
recently completed the course and have begun to participate in practical

response to the relatively poor timeliness of miner maintenance overseas,
Bitmain has launched HUB warehouse services. It is expected that the
maintenance time of miners in North America would be reduced from three weeks
to four days, the logistics time would be reduced by 79%, and the mining
revenue loss would be reduced by 53%. Before December this year, HUB warehouse
services will also be launched in Kazakhstan. In the future, Bitmain plans to
set up more HUB warehouse outlets around the world

As discussed by the speakers at the conference, the digital currency mining industry still has growth potential. The industry is moving towards more advanced hardware equipment, better power resources, more innovative business models, better capitalization, participation in global business and policy activities, and longer-term sustainable development prospects.

Bitmain would like to thank all its valued customers from all over the world. Bitmain believes that the development and success of the company are inseparable from the trust and support of our customers. Bitmain will continue to adhere to the values of “Long-term Cooperation”, “Trustworthy Partnerships”, and Develop “Win-win Situations” to provide customers with excellent performance and quality products.

World Digital Mining Summit 2021 in Dubai

In November this year, Bitmain will host the World Digital Mining Summit 2021 in Dubai. The summit will deliver a broader and more efficient platform for information, exchange, and resource sharing. At that time, WDMS will bring more insightful industry prospects and policy analysis. The conference will also discuss advanced mining equipment information and brand new hosting service opportunities, water-cooled mining solutions, and many other excellent topics.

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