The first vice-minister of the digital development of Kazakhstan Kanysh Tuleushin published an article in the government newspaper Kazakhstan Pravda, where he wrote that mining regulated by the state is able to bring money to the state budget and push the development of energy.

The deputy minister said that Kazakhstan has significant electricity reserves, especially in regions with excessive generation like the Pavlodar and Karaganda regions. Access to relatively inexpensive electricity produced at coal and hydroelectric power plants makes the country attractive to miners, the official believes. The cold climate in the northern regions reduces the cost of cooling equipment, he added.

All these advantages have already attracted large miners to the country, the vice minister said. The state intends to use miners, seeing in them not only a source of income, but also a “tool for a technological jerk”.

The Ministry plans to oblige miners to invest part of the profit in the modernization of the energy system of Kazakhstan. For example, in the construction of new substations, the use of renewable energy sources and increasing the energy efficiency of existing power plants. All this will help to balance the load on the network and avoid the energy deficit, which the country has encountered due to mining in the past, Tuleushin believes.

The government spokesman said that miners and blockchain companies can help the state with tokenized assets and smart contracts. Such technologies can simplify cross-border calculations, increase business transparency and attract additional investments in the economy, said the vice minister.

Earlier, deputy of the lower house of the Mazhilis of the Republic of Kazakhstan Azat Peruashev, proposed to create a state cryptobank in order to withdraw transactions with cryptocurrencies from the “gray zone”.