Uzbekistan Unveils Besqala Mining Valley as Global Crypto Hub

The Uzbek government has launched an ambitious initiative to lure global crypto mining operators to the country. The Besqala Mining Valley, located in the Republic of Karakalpakstan, is designed to offer a stable and attractive environment for industrial-scale hash rate operations.

The zone's key features include a 10-year tax holiday on corporate income, property, and land taxes. This exemption applies to all residents within the designated area, providing a significant advantage over other jurisdictions. The relaxed energy rules now permit the use of renewable sources, hydrogen plants, and grid electricity, allowing operators to choose the most suitable option for their operations.

The National Agency for Perspective Projects (NAPP) is responsible for managing the zone's development. To qualify for resident status, legal entities must apply and gain access to approved power sources. Once operational, they can sell mined assets both domestically and abroad, with all transaction proceeds routing through Uzbekistan's banking system.