{"id":221236,"date":"2022-02-24T00:00:44","date_gmt":"2022-02-24T00:00:44","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=221236"},"modified":"2022-02-23T19:07:07","modified_gmt":"2022-02-23T19:07:07","slug":"kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax\/","title":{"rendered":"Kazakh officials seize 360 illegal Bitcoin ASICs amid push for higher mining tax"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Kazakhstan\u2019s authorities have confiscated 360 specialized Bitcoin ASICs as part of the country\u2019s ongoing campaign to weed out \u201cgray\u201d crypto miners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to an <\/span><a href=\"https:\/\/www.gov.kz\/memleket\/entities\/afm\/press\/news\/details\/331449?lang=kk\"><span style=\"font-weight: 400;\">announcement<\/span><\/a><span style=\"font-weight: 400;\"> published by the Financial Monitoring Agency today, officials have \u201cidentified persons engaged in mining activities in violation of the laws of the Republic of Kazakhstan.\u201d<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cDuring the search, 360 units of ASIC miners, which produce digital cryptocurrency \u2018Bitcoin,\u2019 were found and confiscated. \u2018Mining farms\u2019 were installed in three containers,\u201d the agency reported, adding that \u201cthe investigation is underway.\u201d<\/span><\/p><\/blockquote>\n<h2>Opportunity cost<\/h2>\n<p><span style=\"font-weight: 400;\">This comes on the heels of Marat Sultangaziyev, Kazakhstan\u2019s First Vice Minister of Finance,\u00a0 proposing to <\/span><a href=\"https:\/\/cryptoslate.com\/new-tax-proposal-in-kazakhstan-could-push-crypto-miners-out\/\"><span style=\"font-weight: 400;\">increase the electricity tariff<\/span><\/a><span style=\"font-weight: 400;\"> by 335%. If accepted, it would mean that crypto miners in the country will no longer pay a flat rate of\u00a0 $0.0023 per kWh\u2014instead, the electricity rate will rise up to $0.01.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The proposal also included a tax on mining equipment which should be taxed the same way as casinos, according to Sultangaziyev.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">His latest initiative, combined with Prime Minister Alikhan Smailov's recent <\/span><a href=\"https:\/\/primeminister.kz\/ru\/news\/prinimat-reshitelnye-mery-v-otnoshenii-serogo-mayninga-poruchil-premer-ministr-211299\"><span style=\"font-weight: 400;\">order<\/span><\/a><span style=\"font-weight: 400;\"> to \u201ctake decisive action against gray mining,\u201d could ultimately contribute to pushing miners out of the country\u2014and that\u2019s just as Kazakhstan seemingly began to build its reputation of a mining Mecca.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Last year, China\u2014which was the world\u2019s leader in terms of its total Bitcoin hash rate share\u2014<\/span><a href=\"https:\/\/cryptoslate.com\/bitcoin-block-times-hit-lowest-point-in-10-years-after-china-mining-ban\/\"><span style=\"font-weight: 400;\">effectively outlawed<\/span><\/a><span style=\"font-weight: 400;\"> the whole mining industry, forcing the corresponding enterprises to either shut down or relocate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result, Kazakhstan was considered one of the prime new locations for Chinese miners thanks to its stable and cheap energy supply. At this rate, however, the country's attractiveness to miners may slowly fade, especially if local authorities continue to put more and more pressure on the sector.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kazakhstan\u2019s authorities have confiscated 360 specialized Bitcoin ASICs as part of the country\u2019s ongoing campaign to weed out \u201cgray\u201d crypto miners. According to an announcement published by the Financial Monitoring Agency today, officials have \u201cidentified persons engaged in mining activities in violation of the laws of the Republic of Kazakhstan.\u201d \u201cDuring the search, 360 units [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":221308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2376,11,5790],"tags":[60786],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kazakh officials seize 360 illegal Bitcoin ASICs amid push for higher mining tax<\/title>\n<meta name=\"description\" content=\"Kazakhstan continues its &quot;decisive action against gray mining\u201d and have confiscated 360 specialized Bitcoin ASICs as part of the country\u2019s ongoing campaign\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kazakh officials seize 360 illegal Bitcoin ASICs amid push for higher mining tax\" \/>\n<meta property=\"og:description\" content=\"Kazakhstan continues its &quot;decisive action against gray mining\u201d and have confiscated 360 specialized Bitcoin ASICs as part of the country\u2019s ongoing campaign\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-24T00:00:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-23T19:07:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/kazakhstan-bitcoin-asic.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/kazakh-officials-seize-360-illegal-bitcoin-asics-amid-push-for-higher-mining-tax\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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