Kyrgyzstan Raises Electricity Rates for Crypto Miners

The Kyrgyz government recently revised electricity prices for different consumer groups. Bishkek authorities increased the rates for crypto mining companies to purchase electricity, citing the energy-intensive nature of the cryptocurrency mining process.

The increase follows the government’s decision to comprehensively update electricity prices to “ensure stable and reliable operation of the energy sector.” Crypto miners will pay 2.52 Kyrgyzstan som (less than $0.03) for every kilowatt-hour of electricity used. Government data shows that the new rate is the result of a 12.5% ​​increase.