The Russian Federation began preparations for the supply of electricity for mining in Kazakhstan
The government ordered to amend the existing agreement on parallel operation of power systems of the two countries
Russia has begun preparations for the supply of electricity for mining cryptocurrencies in Kazakhstan. The governments of the two countries have agreed on amendments to the existing agreement between Russia and Kazakhstan on measures to ensure the parallel operation of power systems, follows from the order of the Russian government.
The amendments suggest that the power company Inter RAO (the only Russian electricity export-import operator) will be able to sell electricity to Kazakhstan under contracts concluded with Kazakh enterprises engaged in mining on commercial terms.
In January of this year, due to the high wear and tear of the energy infrastructure in Kazakhstan, there were problems with electricity throughout the country. About 200 mining companies were temporarily disconnected from power supply.
At the same time, Kazakhstan is actively developing the cryptocurrency industry. This week, President Kassym-Jomart Tokayev visited Digital Bridge 2022, a forum on digital technology and business, where he heard a report on the first official cryptocurrency transaction. Also, by the end of the year, Kazakhstan plans to issue a cryptocurrency card, which can be paid for in stores.