Kazakhstan’s President Kassym-Jomart Tokayev signed a decree on July 8 allowing oil producers to convert associated petroleum gas into off-grid electricity specifically for crypto mining operations. The move aims to reclaim the country’s lost share of global Bitcoin hash rate after stricter energy regulations following a mining boom that once consumed about 8% of Kazakhstan’s total electricity. The decree also introduces personal income tax exemptions for gains from transactions on licensed domestic digital asset platforms. By directing miners toward flare gas, the initiative provides access to cheap, stranded energy while reducing wasteful gas flaring, removing the grid strain that derailed previous mining operations.
Source: Read the original article
