Kazakhstan Bolsters National Cryptocurrency Reserves Through Strategic Digital Mining
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Kazakhstan Bolsters National Cryptocurrency Reserves Through Strategic Digital Mining
According to Report.az, the Kazakhstan government has approved the "Strategic Digital Mining Implementation Rules," allowing enterprises to obtain electricity quotas from power generation institutions at capped electricity prices for the next 10 years. In exchange, relevant enterprises must transfer a portion of the mined cryptocurrency to the Astana Hub Autonomous Cluster Fund, which will subsequently be managed in trust by the National Investment Company under the National Bank of Kazakhstan to supplement the national strategic cryptocurrency reserve.
Navigating Web3 tides with focused insightsTechFlow news, July 23, according to Report.az, the Government of Kazakhstan has approved the "Rules for the Implementation of Strategic Digital Mining", allowing enterprises to obtain electricity quotas from power generation organizations at capped electricity prices within the next 10 years. In exchange, relevant enterprises need to transfer a portion of the mined cryptocurrency to the Astana Hub Autonomous Cluster Fund, subsequently managed in trust by the National Investment Company under the National Bank of Kazakhstan, to supplement the national strategic cryptocurrency reserves. Operators participating in strategic digital mining must submit applications through the Electronic Licensing Database and undergo review by a specialized committee; after approval, they must also sign relevant agreements with the Astana Hub Autonomous Cluster Fund and power generation organizations respectively within 5 working days.
