Mining on solar energy legalized in Uzbekistan

Posted 05 May, 2022

The country invited miners to install solar panels to power their farms. Otherwise, there is a double tariff for electricity for cryptocurrency mining.

The Uzbek authorities will allow local miners to mine cryptocurrency using solar energy, and will also exempt all transactions with digital assets of domestic and foreign companies from income tax. The President of the country published the corresponding decree this week, writes Reuters.

The country's authorities are offering miners to install solar panels to power their own farms. When connecting to the power grid for cryptocurrency mining, double tariffs will apply. And during periods of peak energy consumption, additional fees will be charged from the miners.

According to the decree, a license is not required for cryptocurrency mining, but the company must be registered by the National Agency for Perspective Projects of Uzbekistan. Trading in digital assets has been legal in the country since 2018, but it is only allowed on local platforms.

 

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