Kyrgyz government approves new electricity tariffs for miners

The government of Kyrgyzstan approved new electricity tariffs for 2021-2025. They provide for higher electricity prices for mining activities.

The higher tariffs for mining entities were attributed to the energy-intensive nature of cryptocurrency mining. For electricity consumption for mining, 2.52 som per kWh will be charged.

In addition, for this category of activity, as well as gold-mining factories and alcohol production facilities, a multiplier of 2 will be applied.

«Thus, for this category of consumers, the tariff will be set at a level that compensates the costs of electricity generation at CHP plants, taking into account its delivery to the consumer», the document states.

From 2022, electricity tariffs will be adjusted in line with the actual inflation rate of the previous year.

Back in 2020, Kyrgyzstan’s parliament, in the third reading, passed a bill amending the Tax Code to tax mining. It imposes a 15% tax on sector participants.

In 2021, the National Bank of Kyrgyzstan announced plans to license cryptocurrency exchange operators, and the cabinet presented a project to regulate Bitcoin exchanges.

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