Electricity tariffs for miners triple in Uzbekistan in Uzbekistan

The Government of the Republic of Uzbekistan ordered to increase tariffs for electricity consumed by mining companies by 300%.

The Cabinet of Ministers of Uzbekistan made a decision in accordance with the decree of the President of the country dated August 22, 2019 No. PP-4422 “On accelerated measures to improve energy efficiency of economic and social sectors, the introduction of energy-saving technologies and the development of renewable energy sources.”

The initiative is aimed at further stimulating energy conservation, increasing energy efficiency in economic and social sectors, as well as rational use of electricity by consumers. The decision states:

“Consumers, regardless of the connected capacity, carrying out activities on crypto assets, including mining, pay for electric energy using an increase factor of 3.0 times the established tariff of the corresponding tariff group.”

Note that the authorities of Uzbekistan are quite positive about blockchain technology. So, in March of this year, the Ministry of Innovative Development of Uzbekistan and the national payment system of the country Uzcard announced the creation of a unified electronic block accounting system for car accounting.