In 2024, tax revenues from cryptocurrency mining in Kyrgyzstan decreased by more than 50 percent, amounting to $535,000 compared to $1 million in 2023. The decrease in income is related to high operational costs, fluctuations in energy prices, and other market factors. Although Kyrgyzstan has significant hydroelectric potential, used only at 10 percent, issues with the availability of cheap energy and instability in the cryptocurrency market have negatively affected mining revenues.
12/28/2024 12:08:40 PM (GMT+1)
Taxes from cryptocurrency mining in Kyrgyzstan decreased by more than 50 percent in 2024, totaling $535,000 instead of $1 million in 2023 due to high operational costs and fluctuations in energy prices ⚡
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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