More Than 100 Crypto Mining Companies Close in Kazakhstan

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After a series of checks in Kazakhstan, 106 mining enterprises ceased their activities, some of which turned out to be associated with large businesses and ex-officials, the local Financial Monitoring Agency has reported. According to it:

“They include firms affiliated with well-known entrepreneurs Bolat Nazarbayev and Alexander Klebanov in Pavlodar region, Kairat Sharipbaev, ex-chairman of the board of QazaqGaz National Company JSC in Aktobe region, and well-known businessman Yerlan Nigmatulin in Karaganda region.”

55 companies voluntarily have suspended their activity, dismantled their equipment and removed it from their locations.

In addition, another 51 companies have been forcibly disconnected from the power supply. Business owners are suspected of conducting illegal activities, evading taxes and customs duties, as well as illegal placement of equipment in the territories of special economic zones.

The authorities have opened 25 criminal cases related to illegal mining and seized more than 67,000 devices worth $192.9 million.