Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organiza...
Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining facilities in Kazakhstan, have already relocated around 30% of their mining equipment elsewhere. The President of the National Association of Blockchain and Data Center Industry of Kazakhstan Alan Dorjiyev told....
Related News
Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy supply like the United States. Miners Shut Down Crypto Farms Due to Kazakhstan’s Issues With Power Generation Kazakhstan has become a crypto mining hotspot since China launched a government offensive against bitcoin miners in May. The Central Asian nation maintains capped electricity rates....
Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra Fee per Kilowatt-hour of Electricity Crypto mining entities in Kazakhstan are going to pay a surcharge for the electrical energy they burn. President Kassym-Jomart Tokayev has signed a new law this week amending the Central Asian republic’s legislation “on taxes and other obligatory....
The government of Kazakhstan has revised the registration requirements for persons and companies involved in crypto mining. The updated regulations come amid an ongoing clampdown on the industry in the Central Asian nation, where the influx of miners has been blamed for persisting electricity shortages. Crypto Miners to File Quarterly Reports With Kazakhstan Authorities An order issued by Kazakhstan’s minister of digital development, Bagdat Musin, has expanded the registration and reporting requirements for those minting digital coins. The document obliges individual entrepreneurs....
BIT Mining, a cryptocurrency mining company that recently stated it will be expanding outside of China, aims to buy 2,500 Bitcoin miners for deployment in Kazakhstan. BIT Mining Goes To Kazakhstan BIT Mining announced on Wednesday that it had agreed to buy 2,500 Bitcoin (BTC) mining equipment for $6.6 million. The company has already installed […]
The central Asian country’s government has proposed three price increases to electricity and taxes specifically targeting crypto miners. The Kazakh government is considering a three-pronged proposal designed to make crypto miners pay much more for operating in the country, which could make Kazakhstan less attractive to the industry.On Feb. 4, Kazakhstan’s First Vice Minister of Finance, Marat Sultangaziyev, proposed a price increase from $0.0023 per Kwh to $0.01 (around a 335% increase) specifically for crypto miners. He also proposed a tax on each individual graphics card (GPU) and each....