Bitcoin Mining: Kazakhstan suggests a 500% tax increase; some eye relocating to the US, Russia

Bitcoin mining rigs are facing problems all over the globe. First, miners were evicted from China and later shifted to Kazakhstan.

Kazakhstan saw widespread civil unrest after rising fuel costs which led to the authorities severing internet and security clampdown.

Kazakh authorities are looking into hiking the tax on electricity for cryptocurrency miners from one tenge to five tenges (USD$0.0023 to $0.012).

The current rules in Kazakhstan distinguish so-called “gray miners” from so-called “white miners.” White miners have signed on to a new registry at the Ministry of digital development.

Gray miners & White miners