Crypto Mining Taxes Boost Kazakhstan's Revenue with $7 Million in 2022

Kazakhstan collected 3.07 billion tenge (approximately $7 million) in taxes from crypto mining in 2022, contributing 13.22% of the global Bitcoin hash rate. Despite a decrease in fees, preliminary data shows the government collected 240 million tenge - worth over $541,000 by April 27, 2023. New regulations aim to reduce tax evasion and illegal operations, and the country’s adoption of mining taxes is considered a legal path for further adoption amid tightening regulations worldwide. Foreign mining operators relocated to Kazakhstan during the last bull market, indicating positive adoption.

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