Krypto miner in Kazakhstan begin to pay higher power fees-mining Bitcoin messages
Krypto miner in Kazakhstan begin to pay higher power fees-mining Bitcoin messages
Since the beginning of 2023, cryptocurrency references active in Kazakhstan have had to pay new fees for the electricity that you need to emboss digital coins. A levy introduced in 2021 now depends on the price of the electricity that is used by Bitcoin farms, and can be much higher than the original delivery.
The new year brings higher costs for companies mining crypto in Kazakhstan
From January 1, a power fee for crypto miner in Kazakhstan is calculated after a progressive scale. The initial universal from 1 Kasachische Tenge ( kWh ), which was first accepted in summer 2021, can now reach 25 Tenge (over $ 0.05).
The respective tariff depends on the source and the price of the electrical energy that is used to extract digital currencies. The new mechanism for determining the tariff was introduced with a draft law to change the tax legislation of the country, which was adopted by President Kassym-Jomart Tokayev signed in July 2022.
The basis for the delivery is the average electricity price that a miner consumes during a certain tax period. If a company pays 24 TenGE or more per kWh, the minimum fee of 1 Tenge is charged according to the latest interfax Kazakhstan and other local media.
The lowest tariff is also offered crypto farms that use renewable energies without considering electricity costs. And for other sources, energy generated - the cheaper the electricity used, the harder the tax burden. The fee can be up to 25 tenge per kWh, according to the reports in detail.
After China's hard approach to industry,Kazakhstan became a mining hotspot in 2021 and attracted crypto miner with its low, subsidized electricity prices. The influx of mining company was held for the growing electricity deficit of the country.
The authorities in only-sultan are pursuing illegal mining companies and take steps to regulate the sector more comprehensively. A determination in a new invoice assumed from the Kazakh parliament in December. oblige to buy excess electricity on a government controlled by the government.
An earlier legislative proposal, which was presented by a group of legislators in October, limits mining to registered companies. It also allows non -regional companies to reduce the country as long as they have agreements with locally licensed data centers.
Do you believe that the new fees could convince some mining companies to leave Kazakhstan? Share your thoughts on this topic in the comment area below.
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