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TechFlow reported on December 27 that the Ministry of Economy and Finance of Kyrgyzstan released its 2024 budget document, showing a 50% year-on-year decline in cryptocurrency mining tax revenue. Despite soaring cryptocurrency valuations, the country's cryptocurrency mining tax revenue dropped significantly to just 46.6 million Kyrgyz soms (approximately $535,000), far below the 93.7 million Kyrgyz soms (over $1 million) recorded in 2023.
The Ministry of Economy and Finance of Kyrgyzstan released the 2024 budget documents showing that cryptocurrency mining tax revenue in Kyrgyzstan declined by 50% year-on-year in 2024. Despite the surge in cryptocurrency valuations, tax revenue from crypto mining dropped significantly, contributing only 46.6 million Kyrgyz soms (approximately $535,000), far below the 93.7 million Kyrgyz soms (over $1 million) recorded in 2023.
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