15 August 2020

00:00:00 (GMT+5)

Tashkent +35,3 °C

3 Okt  2019 787

Legalization of mining farms and new tariffs for electricity

Uzbekistan plans to take the appropriate rates for the consumption of electricity producers cryptocurrency.

Now there is a discussion of the draft resolution of the Cabinet of Ministers, according to which the payment for electrical energy consumers, carrying out activity on the crypto-assets will be carried out with the use of the step-up ratio of at least 3.0 times to set tariff appropriate tariff group, the press service Ministry of energy.

The activity of mining farms requires a considerable amount of electricity and thus its stability Incoming. That is, there is a large energy consumption, which must go for social purposes, as the price is subsidized by the state. And therefore it's necessary to pay appropriately for such misuse of electricity produced in Uzbekistan.This was reflected in the new draft resolution of the Cabinet of Ministers.

We also note that, according to analysts, the conditions for mining farms in Uzbekistan, and after a 3-fold increase in the price of the electricity they consume, remain attractive. In particular, due to competitive prices on the Internet, as well as an attractive rent for the premises. In addition, it should be noted that even in countries where the cost of electricity is higher than in Uzbekistan in 3-4 times, this kind of business is highly profitable.

With the adoption of the Resolution of the Cabinet of Ministers will be developed mechanisms that will identify the appropriate type of business, which, like any, should be legalized. Evasion of legalization leads to the suspicion that cryptocurrency can be used in illegal operations. Thus, the legalization of mining-farms will make it possible to apply to them the new tariffs for electricity.

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