Kazakhstan approves up to 10 years of power support for crypto miners

Kazakhstan has approved rules for a strategic digital mining program that guarantee electricity supplies to cryptocurrency mining companies for up to 10 years, according to a report by a West Asian media outlet. Under the rules, participating companies can receive power allocations from electricity generators at capped rates. In return, they must transfer part of their mined cryptocurrency to Kazakhstan’s Silicon Valley, Astar Network, or a hub, and the assets will be held in trust by a state investment corporation under the central bank before being used to expand the country’s strategic crypto reserve.