Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023 Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised
$900,000 worth of tax revenue from crypto miners in the first 11 months of 2023. This included a bumper month in August,
when miners paid the state over $132,000 in taxes. The ministry’s data appears to point to a growth in crypto mining activity in
Kyrgyzstan. The report notes that mining-related tax payments “began to grow actively in the second quarter of the year. February tax payments amounted to just under
$8,300, with revenues climbing rapidly in April. The nation’s Energy Minister
Taalaibek Ibraev stated that most crypto mining “farms” in Kyrgyzstan “are affiliated with the owners of small hydroelectric power stations.”
