More Than 100 Crypto Mining Companies Suspend Operations in Kazakhstan

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106 mining companies, some of which are associated with large businesses and ex-officials, have ceased their activities in Kazakhstan after a series of checks, the local Financial Monitoring Agency has reported.

55 companies voluntarily stopped work, dismantled equipment and removed it from their locations.

According to the regulators:

“They include firms affiliated with well-known entrepreneurs Bolat Nazarbayev and Alexander Klebanov in Pavlodar region, Kairat Sharipbaev, ex-chairman of the board of QazaqGaz National Company JSC in Aktobe region, and well-known businessman Yerlan Nigmatulin in Karaganda region.”

Another 51 companies have been forcibly disconnected from the power supply. This decision has been made due to the fact that they are suspected of conducting illegal activities, evading taxes and customs duties, as well as illegal placement of equipment in the territories of special economic zones.

These companies include firms associated with one of the richest businessmen in Kazakhstan.

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