As previously reported, riots in Kazakhstan have lead to the Government resigning, an airport capture, and perhaps most importantly for bitcoin (BTC-USD), an internet blackout. In mid 2021, as China was cracking down on bitcoin miners, Kazakhstan was welcoming them - according to Cambridge University, Kazakhstan became the world's third-largest player in the coin mining industry. But with energy-price increases and now an absence of internet service entirely, Coindesk is reporting that hashrates are falling across a number of pools commonly used by Kazakhstani miners. What comes next in the unfolding story is unclear, but a further escalation in violence has the potential to upset the Uranium (NYSEARCA:URA) (NYSE:CCJ), oil (NYSEARCA:USO) (NASDAQ:XEL) and even bitcoin market.
