After China outlawed cryptocurrency mining, miners began moving farms with equipment to other countries with relatively affordable electricity. These include the United States, Canada, Russia and Kazakhstan. The latter not only attracts with affordable electricity, but is also geographically close, so the cost of moving ASIC systems and video cards is lower than when transporting them, say, to Canada or the United States. So, the BTC.com pool has already moved all its ASIC miners to Kazakhstan, and others are ready to follow it. The country’s authorities did not just watch such migration from the outside and introduced an additional tax for miners.
The corresponding bill was adopted by the Parliament in mid-June, and now it has been signed by the country’s President Kassym-Zhomart Tokayev. In accordance with it, from 2022, cryptocurrency miners will pay 1 tenge (this is approximately 0.0023 US dollars) for each consumed kWh – in addition to the payment for the general electricity tariff.
In Kazakhstan, they believe that in this way they will be able to control the mining market and will not let it “go into the shadows”. According to the resource CBECI (Cambridge Bitcoin Electricity Consumption Index), Kazakhstan is the fourth country in the world, after China, the USA and Russia, in terms of electricity consumption for the needs of cryptocurrency miners.
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