Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims
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.Companies, legally operating mining facilities in Kazakhstan, have already relocated around 30% of their mining equipment elsewhere.
The executive noted that miners have been influenced by the persisting issues with energy supply and an expected tax increase. Hisrepresents major companies involved in the extraction of digital currencies accounting for 70% of Kazakhstan’s crypto mining sector. The report quotes legislative documents indicating that Kazakhstan’s parliament prepares to impose on miners a tax of 10 tenge per kilowatt-hour of electricity generated from domestic energy resources and 5 tenge per kWh for imported electrical energy.
The levy for electricity produced from natural gas and renewable sources, excluding hydropower, will be 3 tenge per kWh, if lawmakers adopt the proposed changes. In 2021, authorities in Nur-Sultan introduced aKazakhstan became a mining hotspot following China’s decision to launch a nation-wide crackdown on the industry in May, and largely due to its capped electricity rates.
MvrsToken
Good luck
congratulation for Kazakhstan that can pull out electricity shortages
EGLD going to see 188$ from 134$ , lion heart buy, next one hour time
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Because lack of electricity supply and tax hikes.
Kazakhstan is gradually pushing miners away from their nation, from the energy crisis they had earlier, now electricity shortage and proposed tax hike. It'll definitely hurt their economy, but the fact is they import electricity from Russia so they can't possibly handle mining