Russia to sell electricity to Kazakhstan for mining

The Russian government discusses supply of electricity to Kazakhstan for the needs of mining companies. The corresponding amendments will be made to the existing agreement on the parallel operation of the power systems of the two countries.

The document provides that the company Inter RAO will be able to sell electricity to Kazakhstan under commercial contracts concluded with local enterprises engaged in mining.

Separately in the protocol it is stated that, in accordance with Kazakhstan’s legislation, electricity supply for cryptocurrency mining in conditions of shortage is possible only through planned imports from abroad.

Earlier, in January, the Kazakhstan Electric Grid Company (KEGOC) cut off the power supply to mining farms. The restriction has since been extended several times.

In February, President Kassym-Jomart Tokayev ordered authorities to identify all mining farms and raise the cryptocurrency mining tax.

Last week, the lower house lawmakers drafted a bill regulating cryptocurrency mining in Kazakhstan.

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