Cryptocurrency mining companies in Kazakhstan exported 30% of their mining equipment to other countries

Because of the energy shortage, the Kazakh government has instructed to limit the activities of the crypto mining industry

24.02.2022 - 10:35

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1 min

What’s new? Cryptocurrency mining companies operating in Kazakhstan have already moved about 30% of their mining equipment to other countries. Alan Dorjiyev, the president of the National Association of Blockchain and Data Center Industry of Kazakhstan, spoke about migration. The executive noted that the miners have been affected by the continuing problems with the energy supply and an expected increase in taxes.

Information on the Forklog website

What caused the move of equipment? A report by the National Association of Blockchain and Data Center Industry cites legislative documents. They indicate that Kazakhstan’s parliament is preparing to impose a tax of 10 tenges per kWh on miners for electricity produced from domestic energy resources, and 5 tenges per kWh for imported electricity.

What had happened before? Kazakhstan became a new “home” for mining after China decided in May to launch a nationwide crackdown on the industry, mainly due to limited electricity tariffs. Initially, the country welcomed the mining companies, but then the government began blaming the miners for the growing power shortage. .

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