In Uzbekistan, Crypto Miners are Using Solar Power to Get the Job Done
Recently, in the central Asian country of Uzbekistan, a presidential decree announced that crypto miners could begin using solar power to mine for cryptocurrencies. However, this new law would exempt all domestic and foreign crypto operations from paying income tax.
A report from Reuters states that the Tashkent government is hoping miners will be able to generate power from their crypto farms with the help of solar panels. Furthermore, the government has permitted these mining firms can connect to the local power grid, effectively doubling the price.
What's more interesting is that Uzbekistan's neighbor, Kazakhstan, has taken a harsh, zero-tolerance approach to crypto mining. The Kazakh government is currently working on cracking down on crypto mining and any associated operations, stating that such activities strain the power grid, which uses outdated coal power plants.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.