The Central Asian country recently experienced a major crisis regarding crypto mining. Mining activities had almost come to a halt due to the energy shortage in the country. Now the President of the country has made an important decision.
Kazakhstan President Kassym-Jomart Tokayev has approved new tax rates for crypto miners. Tax authorities have been instructed to charge miners up to $0.052 per kilowatt hour (kWh) as of January 1, 2023.
Currently miners pay a flat fee of just over $0.002 per kWh consumed. After a winter of crypto mining power outages, the government has decided to force Bitcoin (BTC) and crypto miners to pay more.
Since energy prices tend to fluctuate throughout the year, this means that as electricity prices rise in the country, miners' tax bills will also increase.
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