Kazakhstan uses digital mining to replenish its National Cryptocurrency Reserve

The Government of Kazakhstan has approved the "Rules for Implementing Strategic Digital Mining," granting companies electricity quotas at ceiling tariffs from energy-producing organizations for 10 years, Report informs.

In exchange for receiving these quotas, companies should transfer a portion of their mined cryptocurrency to the autonomous cluster fund Astana Hub, local Kazakh media noted. The assets will then be transferred into the trust management of the National Investment Corporation under the National Bank to replenish the National Strategic Crypto Reserve.

To engage in strategic digital mining, operators must submit an application through the E-licensing database. A dedicated commission will review approval requests.

In the event of a positive decision, the digital miner must execute an agreement with the Astana Hub autonomous cluster fund within five working days, as well as conclude an electricity purchase and sale contract with an energy-producing organization.