Kazakhstan Approves Rules for Strategic Digital Mining Program

Kazakhstan's government has approved the rules for implementing strategic digital mining. According to Odaily, companies can receive power quotas from energy-producing organizations for up to 10 years at the highest rate. As a condition for obtaining the quotas, companies must transfer part of their mining output in cryptocurrency to the Astana Hub autonomous cluster fund. The assets will then be handed over to a state investment company under the National Bank for trust management and used to replenish the country's strategic cryptocurrency reserve. Operators participating in strategic digital mining must submit applications through the E-licensing database for review by a special commission. If approved, digital miners must sign an agreement with the Astana Hub autonomous cluster fund within five working days and enter into a power purchase contract with the energy-producing organization.