BlockBeats report: On July 23, the Government of Kazakhstan approved the "Rules for Implementing Strategic Crypto Mining," allowing qualified companies to secure electricity quotas for up to 10 years at a capped tariff. In exchange, participating companies must transfer a portion of their mined crypto assets to the Astana Hub Autonomous Cluster Fund, which will be managed on behalf of the state by the National Investment Company under the National Bank of Kazakhstan to bolster the nation’s strategic crypto reserves.
Under the new regulations, digital mining companies must submit applications through the E-licensing system, obtain approval from a dedicated committee, sign an agreement with Astana Hub within five working days, and enter into a power purchase agreement with a power generation company to participate in the Strategic Digital Mining Program.