Kazakhstan hopes to generate USD 738 million for its crypto industry
The initiative will serve as a sweet spot for investors who want to develop cryptocurrency mining operations
The Republic of Kazakhstan continues to develop proposals for the blockchain industry, particularly in digital currency mining, and it is hoped that in the future this will be an ideal point for investors who wish to develop cryptocurrency mining operations.
The initiative was announced on June 11 by Minister Askar Zhumagaliyev, who heads the portfolio of Innovation, Digital Development and Aerospace Industry, in a presentation before the national parliament.
For his part, Zhumagaliyev and his team keep evaluating the behavior of mining in other countries such as: Sweden, the United States and South Korea, in order to observe how cryptocurrencies are integrating daily among people.
During the analysis, Kazakhstan has observed certain similar characteristics in the aforementioned countries, among which stand out: mining farms for the extraction of cryptocurrencies, which are usually installed in areas with very low temperatures, which can mean substantial savings in terms of optimal conditions operation.
In addition, it is important to have a reliable source of electrical energy, since the consumption of mining equipment is usually quite high. So far, the minister has unveiled 14 operating mining farms in Kazakhstan, all located in regions like Uralsk or Pavlodar, and is expected to improve conditions to optimize their operation in crypto mining.
K.Villarroel
Source: bitcoin
