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RE: LeoThread 2023-10-03 15:36

in LeoFinance • last year

🧵 1. Kazakh crypto miners urge president to lower energy prices, claiming high costs are causing industry distress. #crypto

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    🧵 3. The letter warns that high energy prices hinder government's efforts to regulate crypto industry, putting Kazakh mining on the verge of extinction.

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    🧵 4. Kazakh government introduced taxes on digital mining, resulting in $7 million in tax payments from mining entities in 2022, but threatens industry's position.

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    🧵 5. Miners reveal taxed electricity in Kazakhstan costs $0.067 per kWh, lower than the average of $0.12 in the United States, fueling concerns over competitiveness.

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    🧵 2. Eight major mining operators sign open letter to President Tokayev, stating taxes on energy have pushed Kazakhstan out of crypto mining leadership.

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    thanks for sharing

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