{"id":455045,"date":"2022-05-30T16:52:08","date_gmt":"2022-05-30T13:52:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/heres-how-much-kazakh-govt-made-off-crypto-mining-in-q1-2022\/"},"modified":"2022-05-30T16:52:08","modified_gmt":"2022-05-30T13:52:08","slug":"heres-how-much-kazakh-govt-made-off-crypto-mining-in-q1-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/heres-how-much-kazakh-govt-made-off-crypto-mining-in-q1-2022\/","title":{"rendered":"# Here&#8217;s how much Kazakh gov&#8217;t made off crypto mining in Q1 2022"},"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-6a413c480ce87\" 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-6a413c480ce87\" 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\/heres-how-much-kazakh-govt-made-off-crypto-mining-in-q1-2022\/#%E2%80%9D_Heres_how_much_Kazakh_govt_made_off_crypto_mining_in_Q1_2022_%E2%80%9C\" >&#8221; Here&#8217;s how much Kazakh gov&#8217;t made off crypto mining in Q1 2022 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Heres_how_much_Kazakh_govt_made_off_crypto_mining_in_Q1_2022_%E2%80%9C\"><\/span>&#8221; Here&#8217;s how much Kazakh gov&#8217;t made off crypto mining in Q1 2022 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvN2ZiZGYzN2ItNzdlNi00OGU3LWI0OTItYjQ0NzEyNjM5ZDMwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The government of Kazakhstan, one of the world\u2019s largest countries by the Bitcoin (BTC) mining hash rate distribution, has reported budget earnings derived from cryptocurrency mining.<\/p>\n<p>On May 30, Kazakhstan\u2019s state revenue committee of the Ministry of Finance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.kz\/memleket\/entities\/kgd\/press\/news\/details\/379843?lang=ru\">released<\/a> a report on the amount of total energy fees paid by local crypto miners in the first quarter of 2022.<\/p>\n<p>According to the report, Kazakhstan\u2019s budget added 652 million Kazakhstani tenge ($1.5 million) in energy fees from crypto mining in Q1 2022 after the government introduced a digital mining fee on Jan. 1, 2022.<\/p>\n<p>The committee stressed that a significant amount of the expected sum of fees has not been received by the budget as the government has shut down a wide number of crypto mining firms in order to \u201censure energy security.\u201d Additionally, the authority mentioned that the government is considering increasing local fees for cryptocurrency mining as part of the new crypto bill.<\/p>\n<p>The committee also noted that tax reporting on digital mining-related payments is not provided for by Kazakhstan\u2019s tax code. On May 25, the Kazakh parliament passed in the first reading the amendments to the national tax code to introduce the crypto mining tax tied to the electricity prices consumed by mining entities.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance signs MOU with Kazakhstan to further crypto adoption and regulation<\/em><\/strong><\/p>\n<p>In late 2021, the Data Center Industry and Blockchain Association of Kazakhstan estimated that cryptocurrency mining could bring as much as $1.5 billion in revenue for the country in five years. As previously reported, Kazakhstan is one of the world\u2019s largest countries by BTC mining hash rate. According to the latest update of the Cambridge Bitcoin Electricity Consumption Index, Kazakhstan was the third-largest BTC mining location in the world as of January 2022, with the hash rate share amounting to 13%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/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\/here-s-how-much-kazakh-gov-t-made-off-crypto-mining-in-q1-2022\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Here&#8217;s how much Kazakh gov&#8217;t made off crypto mining in Q1 2022 &#8220; The government of Kazakhstan, one of the world\u2019s largest countries by the Bitcoin (BTC) mining hash rate distribution, has reported budget earnings derived from cryptocurrency mining. On May 30, Kazakhstan\u2019s state revenue committee of the Ministry of Finance released a report&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvN2ZiZGYzN2ItNzdlNi00OGU3LWI0OTItYjQ0NzEyNjM5ZDMwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,75042,71511,76242,70934],"class_list":["post-455045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-mining","tag-government","tag-kazakhstan","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455045","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=455045"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455046"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}