The government of the Republic of Kazakhstan has approved regulations for strategic digital mining, which will take effect on August 1.
Strategic digital mining is defined in the regulations as operating under an electricity quota at capped tariffs in exchange for the mandatory transfer of a portion of mined assets.
The coins must be directed to the autonomous cluster fund "Astana Hub," and subsequently managed by the National Investment Corporation of the National Bank of Kazakhstan for investment in the National Strategic Crypto Reserve.
To operate under this regime, miners must submit an application through the office of the authorized body or via the state electronic database.
Requirements for participants include:
- A data center for mining with a capacity of at least 150 MW;
- Connection conditions to networks from substations of 35 kV and above with an allowed capacity of at least 1 MW;
- Equipment with a hash rate of no less than 150 TH/s per unit;
- No outstanding debts on mandatory payments or encumbrances on property;
- Two contracts with communication operators, a service center, and qualified personnel on-site.
If a miner is denied due to non-compliance, they may reapply after addressing the issues, except in cases where the reasons are related to a lack of available electricity capacity.
Upon receiving a positive response, the miner will enter into agreements with "Astana Hub" and an energy-producing organization from the approved list. Additionally, a new crypto wallet must be created for the distribution of mined assets.
The regulations allow for the combination of strategic digital mining with regular digital mining activities.
At the same time, the procedure for distributing digital assets to be transferred to the National Strategic Crypto Reserve has also been approved.
It is worth noting that on July 8, President Kassym-Jomart Tokayev signed a decree "On Measures to Stimulate and Develop the Digital Asset Industry in the Republic."