Kazakhstan has approved rules for what it calls strategic digital mining, linking the program directly to the buildout of a national crypto reserve. Under the new framework, eligible companies can receive electricity allocations at a capped tariff for as long as 10 years. In return, participating miners must transfer part of the crypto assets they produce to the Astana Hub autonomous cluster fund. Those assets will then be placed under the entrusted management of a national investment company operating under the National Bank of Kazakhstan and used to strengthen the country’s strategic crypto reserves. The rules also lay out a formal application path. Mining companies must apply through the E-licensing system, obtain approval from a dedicated commission, sign an agreement with Astana Hub within five working days, and conclude a power purchase contract with a generating company before joining the program.
Kazakhstan has approved its Rules for the Implementation of Strategic Digital Mining, bringing strategic mining into the country’s national crypto reserve plan, according to BlockBeats on July 23.
Under the new rules, eligible companies can obtain electricity allocations at a capped tariff for up to 10 years. In exchange, participating firms must transfer part of the crypto assets they mine to the Astana Hub autonomous cluster fund. Those assets will then be entrusted to a national investment company under the National Bank of Kazakhstan for management and used to add to the country’s strategic crypto reserves.
Application and approval process
Digital mining companies must submit applications through the E-licensing system. After review by a dedicated commission, approved applicants have five working days to sign an agreement with Astana Hub and must also sign a power purchase contract with a power generation company before they can join the strategic digital mining program.
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