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The
Tashkent government wants miners to power their farms by
installing their own solar panels.
Alternatively, mining companies can be connected to the power
grid if they pay double the regular price. However, during peak
consumption periods extra surcharges can be levied, according to
the decree.
No license is required for mining but the company must be
registered by a newly formed Uzbek National Agency for
Perspective Projects, the document said.
Some cryptocurrencies, including bitcoin, are created by a
process called proof of work which requires computers to "mine"
the currency by solving complex puzzles. Powering those
computers involves large amounts of electricity.
Uzbekistan legalized cryptocurrency trading in 2018 but only on
a domestic crypto exchange. The central Asian nation has also
launched a series of renewable energy projects, mostly solar and
wind power plants.
Neighbouring Kazakhstan, which became the world's second-largest
centre for bitcoin mining after the United States last year, has
cracked down on mining after such operations strained its power
grid dominated by ageing coal power plants.
(Reporting by Mukhammadsharif Mamatkulov; Editing by Robert
Birsel)
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