TechFlow, August 12 — According to NewsBitcoin, Kazakhstan's financial regulators and the National Security Committee have jointly uncovered that multiple power companies illegally supplied electricity to cryptocurrency mining firms over the past two years. Under the country's Digital Assets Law, crypto mining operators may only purchase electricity through a national platform designated by the Ministry of Energy, and only when electricity surplus is confirmed.
The investigation revealed that the illegal electricity consumption exceeded 50 million kWh—equivalent to the annual usage of a city with 50,000 to 70,000 residents—with an estimated value of approximately $16.5 million (9 billion KZT). Authorities have frozen two apartments and four vehicles purchased by key suspects in the capital.
