Crypto Miners Now Face Additional Taxes in Kazakhstan: Details
The landscape for cryptocurrency mining in Kazakhstan is shifting as miners now face additional taxes and fees. This follows a period of significant regulatory changes and government efforts to collect revenue from the booming, yet energy-intensive, industry. The Republic of Kazakhstan has adopted a new law that will see cryptocurrency miners pay extra fees on the consumed energy. The country has seen an influx of crypto mining operations.
How are crypto mining operations taxed in Kazakhstan? Crypto mining in Kazakhstan is subject to income tax, and there may be VAT implications depending on the specific circumstances. The government's focus has shifted towards capturing a larger share of the profits generated by these operations, particularly given the strain they place on the country's energy infrastructure.
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory scrutiny. The authorities are becoming more sophisticated in their approach to tracking and taxing crypto mining activities.
During the first quarter of 2025, authorities in Kazakhstan gathered over $541,000 in crypto mining taxes. This demonstrates the increasing effectiveness of the tax collection mechanisms. Since January 2025, cryptocurrency miners in Kazakhstan have been required to pay taxes and fees. By Ap, they had already transferred almost $540,000 to the budget, with all indicators showing this trend will continue.
In 2025, after amending its cryptocurrency mining tax law, Kazakhstan is looking to stabilize its energy grid and increase revenue. New amendments recently signed by the country’s president could bolster the energy grid refit while keeping overall prices relatively moderate. On July 11, the President of Kazakhstan signed legislation enacting these changes, making the tax increases official and impacting all crypto mining businesses operating within the country.
The increase in taxes and fees represents a significant shift for crypto miners in Kazakhstan. While the country initially attracted miners due to its relatively low energy costs, the government is now prioritizing revenue generation and energy grid stability. This may lead to some miners re-evaluating their operations in Kazakhstan and potentially seeking more favorable jurisdictions.