Kazakhstante expects $ 1.5 billion from crypto mining estimates in 5 years-mining Bitcoin messages
Kazakhstante expects $ 1.5 billion from crypto mining estimates in 5 years-mining Bitcoin messages
in 5 years
KRYPTO-MINER now bring more than $ 230 million into the economy of Kazakhstan and estimates every year that this number could increase significantly in the future. The leading organization of the industry has predicted that the government can collect more than $ 300 million of taxes over the next five years.
Kazakhstan earns millions with cryptocurrency miners
Kazakhstan grows Coin The coin industry has the potential to flow $ 1.5 billion into the country's economy over a period of five years, which leads to tax revenue of over $ 300 million, according to the National Association of Blockchain and Data Center Industry, which combines large companies in the extraction of cryptocurrencies for 70 % of the mining sector. With the opening of cryptocurrency exchanges, household revenue can reach $ 400 million, added the organization.
According to the President of the Association, Alan Dordzhiev, the legal participants of the Kazakhstan mining market are already introducing 98 billion Tenge (almost $ 230 million) annually. Dordzhiev also noticed by the local economic news portal in Business.kz and the crypto news portal forklog:
The number of 98 billion is only the economic effect of companies that are officially active in mining. If you take into account "gray" miners, this number can easily double.
The media reports also show that Miner pays 13 billion Tenge (over $ 30 million) to the state energy supplier kegoc for the power distribution and services of the financial setting center of Renewable Energy. Dordzhiev added that around 500 megawatts (MW) electricity are consumed by illegal mining companies.
The data compiled by the mining association show that registered crypto farms with their activities earn around $ 310 million annually, two thirds of which are spent on electrical energy generated in the country. While these revenues are welcome, the government recently one increasing power deficit in crypto miners.
As more and more mining companies are moving to Kazakhstan due to the low electricity prices, consumption has increased by 7.4 % in the first nine months of the year and reached almost 83 billion kilowatt hours (kWh), according to the authorities unveiled last week. A single mining farm should need as much electricity as 24,000 households, and according to civil servants, the covering of the growing need for the crypto mining industry would require additional 1,000 MW of electricity generation capacity.
To master the challenge, the members of the Association of Blockchain and Data Center Industry have presented a number of so -called "effective solutions". They believe that their approach to the problem can reduce electricity consumption in digital currency mining by more than 35 %.
The organization is convinced that the fight against illegal mining is the key to the energy safety of Kazakhstan, but at the same time rejects any restrictions in the legitimate mining industry. Restrictions, warned Dordzhiev, "will not only destroy the long -term efforts to attract foreign investors, but also impair the actual flow of money into the economy of Kazakhstan."
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