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Geopolitics of cryptocurrency mining in Kazakhstan

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  • Hugo Estecahandy

Abstract

In January 2022, a massive power blackout hit Central Asia, and especially the southern region of Kazakhstan after months of a huge rise in electricity consumption in the country and a few days after deadly demonstrations repressed by law enforcement. According to the Kazakhstani authorities, this huge power outage was due to cryptocurrency mining, an energy-intensive digital industry, highly developed within the country. This article aims to analyse and understand the geopolitical dynamics behind the fast and huge-scale development of the activity in Kazakhstan. The paper explores the geography of mining to and within the country, and relates it to the double territory’s divide, both climatic and energetic. Then, it analyses the political aspect of mining focusing on actors and networks of power involved in, sometimes illegal, crypto mining in Kazakhstan. Finally, this work discusses the future of the industry regarding the new regulation since 2023 and its limits.

Suggested Citation

  • Hugo Estecahandy, 2024. "Geopolitics of cryptocurrency mining in Kazakhstan," Central Asian Survey, Taylor & Francis Journals, vol. 43(3), pages 327-345, July.
    • Handle: RePEc:taf:ccasxx:v:43:y:2024:i:3:p:327-345
    DOI: 10.1080/02634937.2024.2324192
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