Recently definition of mining has drastically changed into something else. Today, when people hear mining, they do not think about an extraction of ore and minerals but they think about a complex process performed by highpowered computers that solve compound computational mathematical equations. Bitcoin, Ethereum, Ripple and even meme-based-crypto coins like Dogecoin are widely discussed in private jets and dinner parties
of elite businessmen.
Some people may raise the question, how does a third world country connect to complex computers and billiondollars cryptocurrency trend? The answer is simple. A mix of cheap electricity and allegiance of lawmakers attracts big players from Western countries who have already sharpened their teeth
for a new cash cow.
In addition, on June 25, 2021, president Tokayev has proved that he plans to allow crypto mining in Kazakhstan by introducing a new tax fee to the Tax Code of the Republic of Kazakhstan. This amendment which stipulates fee of one tenge per 1 kW/h for miners will enter into force starting from
January 1, 2022.