Kazakhstan Enters Bitcoin Mining

kazakhstan

The forgotten country of Kazakhstan has found a way to make itself noticed, offer tax free bitcoin mining. Cheap energy at 4 cent kilowatt per hour makes the tax bonus even more appealing. As does its proximity to China. All of which puts this country fourth in regards to bitcoin mining, with China dominating at 60%, America way behind at 7.24%, while Russia is at 6.9%. Kazakhstan has grown very quickly to 6.17%, followed by Malaysia at 4.33% and Iran at 3.82%. The digital mining industry in Kazakhstan is small however at $200 million from 14 mining farms, but the government there is pushing to get it to $700 million and then $1.2 billion. That would be not far off from 1% of its GDP at $180 billion, the vast majority of it coming from oil and gas. Its dependence on these limited, but vast, resources has necessitated a lookout…

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