The Kyrgyzstan Ministry of Economy and Finance has reported that cryptocurrency mining taxes in the country have fallen by 50% compared to the previous year. This year, the tax collection from crypto mining amounted to around $535,000, while last year it reached $1.08 million. Additionally, tax revenue from crypto miners in the first half of 2024 decreased by almost 30% compared to the same period in 2023. This decline is surprising considering that Kyrgyzstan is known for its abundant renewable energy resources, which makes it an attractive destination for crypto mining. The current tax rate for crypto mining in Kyrgyzstan is about 10% of the electricity fee.



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