According to news from PANews on August 6, Kyrgyz President Zaparov accepted an exclusive interview with the Kabar National News Agency and answered questions about the country’s construction of a “mining farm” at a hydropower station, which uses hydropower to produce virtual currency. Confirmation that cryptocurrency mining activities are allowed in areas where the generation capacity allows, so that the electricity sector can generate revenue. If there is a power shortage in winter, the operations of these "mining farms" will be suspended for the remaining nine months.
The President of Kyrgyzstan stated that encryption mining can generate millions of dollars in taxes. Kemin's "mining farm" transferred 480 million soms to the power sector in six months and paid 225 million soms in taxes. All these funds are used to meet the needs of the country and its people. Kemin’s “mining” company is registered with the local tax authority and pays taxes to the local budget, contributing to the development of the region. Even if there is a shortage of electricity in winter, Kyrgyzstan imports the missing electricity from other countries at a price of 3 soms, sells electricity to "mining farms" at a price of 5.04 soms, and obtains a net profit of 2.04 soms, plus tax, the country Only benefit, not loss.
President Sadyr Japarov of Kyrgyzstan has agreed to build a cryptocurrency mining farm at a hydroelectric power plant, Kyrgyz state news agency Kabar previously reported. The Kyrgyz government plans to spend $20 million to build a cryptocurrency mining facility at the Kambar-Ata-2 hydroelectric power plant. President Sadyr Japarov has pledged to distribute the funds from cryptocurrency mining at the hydroelectric plant to “common people.” The president said that operating crypto mining farms will allow the government to avoid energy losses associated with power plants not using electricity.