Kazakhstan expects the economic activity of cryptocurrency mining to be at least $1.5B in 5 years

A report by the Kazakhstan Data Center Industry and Blockchain Association (NABDC) estimated that cryptocurrency mining could bring the country $1.5 billion in revenue in the next five years. Currently, corporate digital currency mining activities generate approximately 98 billion tenge (230 million U.S. dollars) in the country each year. NABDC Chairman Alan Dordzhiev (Alan Dordzhiev), release The local news media kapital.kz quoted the following statement:

The figure of 98 billion tenge is only the economic effect of companies officially involved in mining. If we consider “gray” miners, then this number can safely be multiplied by 2.

In this context, a “gray miner” refers to an individual who is engaged in his own crypto mining business-usually with a controversial legal status.The association Call Strengthen supervision to combat illegal mining to prevent possible power shortages. According to Dordzhiev estimates, miners in the gray areas consume approximately 500 megawatts of electricity in the country.Earlier this month, the Ministry of Energy of Kazakhstan suggested Draft order imposing restrictions on the amount of electricity consumed by the crypto mining industry.

According to data from the University of Cambridge in Kazakhstan contribute Accounted for 18.10% of global Bitcoin (Bitcoin) Mining computing power-the second largest in the world, second only to the beginning of China Blow Regarding mining activities. This puts it only behind the US’s 35.40% hash rate share and higher than Russia’s 11.23%.According to data from GlobalPetrolPrices, the average cost of commercial electricity in Kazakhstan is US$0.054 per kWh, okay the following Due to the country’s huge fossil fuel reserves, the global average is $0.124 per kilowatt hour.