{"id":442068,"date":"2022-05-05T04:02:44","date_gmt":"2022-05-05T01:02:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kazakhstan-ramps-up-power-consumption-reporting-requirements-for-crypto-miners\/"},"modified":"2022-05-05T04:02:44","modified_gmt":"2022-05-05T01:02:44","slug":"kazakhstan-ramps-up-power-consumption-reporting-requirements-for-crypto-miners","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kazakhstan-ramps-up-power-consumption-reporting-requirements-for-crypto-miners\/","title":{"rendered":"# Kazakhstan ramps up power consumption reporting requirements for crypto miners"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df46f34788\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df46f34788\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kazakhstan-ramps-up-power-consumption-reporting-requirements-for-crypto-miners\/#%E2%80%9D_Kazakhstan_ramps_up_power_consumption_reporting_requirements_for_crypto_miners_%E2%80%9C\" >&#8221; Kazakhstan ramps up power consumption reporting requirements for crypto miners &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Kazakhstan_ramps_up_power_consumption_reporting_requirements_for_crypto_miners_%E2%80%9C\"><\/span>&#8221; Kazakhstan ramps up power consumption reporting requirements for crypto miners &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMDM0NWU4NjItNjVmOS00Y2RlLWE4ZGEtZjE4NzJkN2UzYmE1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The government of Kazakhstan has laid out new reporting requirements for cryptocurrency mining operators with a keen eye on how the industry&#8217;s energy usage affects the local power grid.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/zan.gov.kz\/client\/#!\/doc\/167156\/kaz\">order<\/a> published by the country\u2019s Minister of Digital Development earlier this week compels digital mining businesses to provide comprehensive information 30 days before starting operations.<\/p>\n<p>The electricity consumption and \u201ctechnical specifications\u201d for connection to the power grid must be provided before commencing operations. The amount and type of mining equipment used, the customs cargo declarations for that equipment and any investments planned for the next 12 months must also be included.<\/p>\n<p>Kazakhstan was flooded with an influx of crypto miners after the Chinese government cracked down on the practice in mid-2021. The increased use of mining rigs in the country strained the energy supply forced the Kazakhstan government to take action, cutting off power to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/kazakhstan-unplugged-bitcoin-miners-before-blackout-hit-region?sref=323RPL5z\"> miners<\/a> at times.<\/p>\n<p>The new reporting requirements also state that miners must submit information about the legal entity carrying out the operation, who must be a resident of the Republic of Kazakhstan, along with contact information, as well as physical and IP addresses used in its activities.<\/p>\n<p>The same information will need to be updated and submitted in a mandatory quarterly report, companies winding up mining operations will need to report when they\u2019ve done so.<\/p>\n<p>The recent order is an update to an existing order by the Minister in October 2020 laying out rules for providing information about digital mining activities.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>&#8216;We are the number two crypto miner in the world, and we see practically no financial return,&#8217; says Kazakhstan President Tokayev<\/em><\/strong><\/p>\n<p>Proposals to hike power prices and increase taxes on crypto miners were brought forward in February, suggesting a 335% electricity price increase along with removing the value-added tax (VAT) exemption on mining equipment and instead taxing each individual piece.<\/p>\n<p>Kazakhstani authorities have been attempting to root out illicit crypto mining operations in the country due to the load they place on the energy grid. In March, 106 illicit crypto mining operations were shut down following raids by the Financial Monitoring Agency which seized over 67,000 pieces of equipment at the time.<\/p>\n<p>The most recent update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) in August 2021 shows Kazakhstan was housing over 18% of the world\u2019s BTC hash rate, second behind the United States.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/kazakhstan-ramps-up-power-consumption-reporting-requirements-for-crypto-miners\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Kazakhstan ramps up power consumption reporting requirements for crypto miners &#8220; The government of Kazakhstan has laid out new reporting requirements for cryptocurrency mining operators with a keen eye on how the industry&#8217;s energy usage affects the local power grid. The order published by the country\u2019s Minister of Digital Development earlier this week compels&#8230;<\/p>\n","protected":false},"author":1,"featured_media":442069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMDM0NWU4NjItNjVmOS00Y2RlLWE4ZGEtZjE4NzJkN2UzYmE1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,74871,75042,71511,76242,55229,70934,46483],"class_list":["post-442068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-electricity","tag-mining","tag-government","tag-kazakhstan","tag-law","tag-regulation","tag-taxes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/442068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=442068"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/442068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/442069"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=442068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=442068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=442068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}