Kazakhstan identifies advantages for digital mining growth
In this news:
BAKU, Azerbaijan, September 15. Kazakhstan has
several competitive advantages for developing the digital mining
industry, including a clear regulatory framework, government
support and a technical workforce, President of the Blockchain and
Digital Mining Association Daniyar Mubarakov said at a government
This was announced by the press service of the Kazakh
government.
He noted that Kazakhstan was among the first countries to
establish clear and transparent regulation of digital mining. The
country has a specialized regulator, maintains dialogue with the
industry and has a legislative framework under the Law on Digital
Kazakhstan also has a technical education system that trains
specialists to work with data centers, Mubarakov said.
According to him, international experience shows that digital
mining can contribute to the development of energy and computing
infrastructure. In the US, the industry contributes more than $4.1
billion to the economy annually and creates over 31,000 jobs.
Mining companies also participate in balancing power systems,
invest in energy infrastructure and develop data centers that can
later be used for artificial intelligence applications.
At the same time, Kazakhstan's mining industry faces high
electricity costs when purchasing power from the Single Buyer,
while surplus capacity is available only during certain hours of
Investors consider electricity costs, power supply stability,
the quality of the legal and tax framework and the government's
long-term strategy when selecting sites, Mubarakov said. Kazakhstan
is implementing measures to support a new model for the industry,
including the creation of a crypto reserve, the development of
strategic mining and the 70/30 Program for modernizing power
He noted that to further strengthen the industry's position,
representatives propose improving the 70/30 Program, increasing the
use of associated gas for power generation, revising approaches to
electricity capacity allocation and the tax burden on mining, and
developing a national digital mining strategy.
These measures could improve the industry's investment
attractiveness, increase the efficiency of energy resources and
support the development of computing infrastructure for
applications including artificial intelligence.
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