Breaking: Kazakhstan Shuts 106 Crypto Mining Farms; Seizes $193M Worth Equipment
Kazakhstan government has hammered 106 crypto mining farms for illegally carrying out crypto mining activities. The administration has discovered some ex-officials associated with it. The statement issued by the government mentions that 67 thousand pieces of equipment worth about 100 billion tenges (approx $193M) were also seized.
Kazakh govt. makes it tough for illegal miners
Cryptocurrency adoption and illegal activities around it, both are on a surge. In a move to eliminate Illegal crypto mining activities, the Kazakh government has voluntarily closed 55 mining farms, while 51 were forced to shut down.
The statement issued by the government mentions that these mining firms were affiliated with well-known entrepreneurs and political figures. The list includes Bolat Nazarbayev, Alexander Klebanov in the Pavlodar region, and former head of the Department of the Ministry of Internal Affairs Tlegen Matkenov.
$193 M worth of mining equipment seized
The inspection done by the authorities, suggests that mining equipment was imported from China, South Korea, Singapore, Turkey, and Georgia. Some of the imported equipment activities were even smuggled from above mentioned countries.
The Financial Monitoring Agency has registered 25 criminal cases and has managed to seize over 67 thousand pieces of equipment worth about 100 billion tenges (approx $193M). However, more than one thousand units of mining equipment worth 2.8 billion tenges (Approx $5,4 million) were imported alone from China.
The country has been experiencing an energy shortage since last year. As per the statement, daily electricity consumption in the country decreased by 600 megawatts/hour.
According to reports, Kazakhstan accounts for 18% of the hash rate of the entire Bitcoin network. Meanwhile, the country calls for sufficient regulation over the mining and circulation of digital assets as it can serve as a tool for the financing of terrorism and other illegal activities.
- Hester Peirce Says US SEC Willing to Foster DePIN and RWA Tokenization Projects
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
