Is Kazakhstan the new mining frontier in Asia?

While in China we see the first effects of the progressive blockade of non-governmental cryptocurrencies and mining farms, with the reuse of saved energy and a timid decrease in the illicit use of digital assets, several mining farms have chosen to switch To Kazakhstan. Why?

Forbes reports that the mining pool Bit extraction would have transferred more than 320 equipment dedicated to cryptocurrency mining to the borders between Kazakhstan and the People’s Republic of China. At least 2,600 more machines are set to cross the border, according to the business magazine, and Bit Mining itself is ready to invest $ 35 million to build a data center dedicated to cryptocurrency mining in Kazakhstan. .

The center of Nur-Sultan (until 2019, Astana): view towards Ak Orda from the Bayterek tower. Source: Wikimedia Commons, CC BY-SA 2.0
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According to Forbes, the choice of Kazakhstan would be justified by thehigh energy availability at relatively low cost and the cold continental climate that would help cool the cars. Although the Asian state introduced, in 2020 and from 2022, a tax on mining: this requires the payment of around 1 tenge, the national currency, for each kW / h of electricity consumed.

According to different sources, mining companies active in Kazakhstan would oscillate between 2 and 5 p.m. The introduction of a tax serves to prevent the development of illegal and untracked mining, as first happened in Iran. Furthermore, the Kazakh government aims to ensure, through the recognition of mining operations, the supply of electricity for the ordinary and daily activities of the population.

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