Kazakhstan develops mining
Agree, we rarely hear about the role of Central Asian countries in the cryptoindustry. Countries like Kazakhstan are mostly lost against the background of their closest neighbors like China and Japan. Nevertheless, even a little-known but very promising country is interested in the implementation of Blockchain. Moreover, the local authorities approached the solution of the problem with all seriousness, allocating a huge area for the construction of a giant mining center. The construction will become one of the largest centers for the extraction of cryptocurrencies in the world, so the benefits are obvious not only for Kazakhs, but also for representatives of other countries. Below we will tell you everything that should be understood about this initiative. So let’s get started.
How Kazakhstan relates to cryptocurrencies and what the country offers
This is the first article about Kazakhstan on our website, since until today the country has not spoken out in any way regarding Blockchain and digital coins. However, Kazakhstan is one of the most progressive countries of the former Soviet Union. So it is not surprising that the authorities are interested in the introduction of digital means. Statesmen believe that the use of Blockchain, following the example of Kazakhstan’s eastern neighbors, will help the country to develop more actively. It is not yet known for whose purpose the mining complex is being built. However, construction has already begun.
In the photo below, you only see the early stages of construction. But even now, the huge scale of the future complex is already noticeable. The large buildings, all taken together, will be able to contain about 50 thousand mining installations. The equipment will be kept in a comfortable environment with fairly low temperatures. Thus, the stable operation of the devices is guaranteed, because the absence of overheating will have a positive effect on the performance of the equipment. Note that the construction has already received large investments. The Kazakh authorities, as well as private investors, provided the builders with about $ 24 million. The allocated funds will be used to finalize the mining complex. As well as to purchase the appropriate equipment.
How will the work proceed?
In fact, it is not fully known when you can buy the opportunity to mine currency in Kazakhstan. Nevertheless, it is already known that the complex is being built precisely for this. Capacities will be sold. And buyers will be able to pick up their own cryptocurrency under certain terms of the contract. According to the laws of Kazakhstan, the mined cryptocurrency is equated to the property of the miner. An officially registered digital asset. However, is not taxed. You do not need to pay any state fees. The country is interested in the arrival of new investors who will start work in Kazakhstan and give jobs to local residents. That is why such legislative indulgences are obvious.
Note that earlier, representatives of the country emphasized that the state earns quite large sums of money from mining. According to the most conservative estimates, the extraction of digital currencies has already brought Kazakhstan $ 200 million. And this is precisely the state money that went to support the economy. The construction of a large complex is projected to dramatically increase investment in Kazakhstani mining. At the very least, the country plans to earn about $ 750 million.
We have no doubt that local miners and builders will succeed. Follow all the news of the cryptoindustry with us. In order not to miss the start of sales of Kazakhstani capacities. We publish only high-quality and interesting material. Thanks for your attention. Good luck!