Wednesday, September 28, 2022
HomeLaw & PoliticsKazakhstan seizes 13 illegal Bitcoin mining rigs amid power outages

Kazakhstan seizes 13 illegal Bitcoin mining rigs amid power outages

Kazakhstan's energy ministry has detected and deactivated 13 illegal crypto mining facilities in the nation.

The Kazakhstan government is stepping up regulatory measures in the cryptocurrency industry in response to the country’s electricity concerns. According to the Ministry of Energy, an inspection team shut down 13 mining sites with a total power usage of 202 MWH on February 2. Authorities have pledged to apprehend more illicit miners.

A lot of people moved to Kazakhstan last year because China was cracking down on Bitcoin mining. The Central Asian country now has an unreliable power supply, which makes it more dangerous to mine Bitcoin there. This has led to a new wave of people moving there.

It was in June 2021 that Kazakhstan President Kassym-Jomart Tokayev made it legal to mine Bitcoin by setting up a tax band for mining. This month, he started calling for mining taxes to be raised.

The administration is expected to put together a full set of mining regulations by April 1.

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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