Kazakhstan is in talks to attract investment worth three hundred billion tenge ($714 million) in the cryptocurrency sector, Digital Development Minister Bagdat Mussin said Wednesday.
Kazakhstan claims to account for 6% of the world’s cryptocurrency mining.
The country followed legal amendments in June clarifying the regulation and taxes of cryptocurrency mining, which it hopes will bring its oil-dominated economy to life, which can provide reasonable electricity to energy-avid companies.
“More than one billion tenge ($190 million) has been invested in the sector,” he said.
Kazakhstan has one of the largest cryptocurrency extraction services in the world. Based in Ekibastuz, near the Border with Russia, the Ekibastuz facility can host up to 50,000 mining platforms, according to sales manager Dmitriy Ivanov.
Assuming the full capacity of MicroBT’s AntMiner S19 or WhatsMiner M30 series, this would constitute a mining force of approximately five to 6 HD/s, or approximately 4% of Bitcoin’s existing hash.
Enegix already operates two mining facilities, however, Ekibastuz is the largest: it will employ more than 160 people, adding engineers, electricians and security personnel.
The facility would take care of as much electrical power as it wants to force 180,000 American homes.
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