Uzbekistan Launches Crypto Mining Valley Along Kazakhstan Border

Uzbekistan has made significant strides in establishing itself as a major player in the global cryptocurrency market, with the latest development being the creation of a special economic zone for cryptocurrency mining.

The Beskala Mining Valley, located in the Karakalpakstan Autonomous Republic near the border with Kazakhstan, will offer a range of benefits to tenant companies, including tax exemptions until 2035 and access to Uzbekistan's unified power grid. Additionally, any remaining power needs will be met by a hydrogen-powered energy plant.

The creation of this special economic zone is part of a broader trend in Central Asia, where countries are vying for dominance in the cryptocurrency mining industry. Kazakhstan, once a major hub, has seen its appeal decrease due to higher electricity tariffs, while Kyrgyzstan and Turkmenistan have also been actively promoting their own mining industries.