Kazakhstan is preparing to launch one of the largest mining centers in the world under the management of Enegix. The 180 MW data center will open in September.
According to Enegix sales Director Dmitry Ivanov, the mining center in Ekibastuz, near the border with Russia, will accommodate up to 50,000 farms for mining. If we assume that the company will install ASIC miners Bitmain AntMiner S19 or MicroBT WhatsMiner M30, the total hashrate of the center will be 5-6 eh/s – about 4% of the current hashrate of Bitcoin.
Enegix already operates two mining companies, but the new center will be the largest-it will employ 160 people, including engineers, electricians and security staff. Construction of the facility, which began in August 2019, cost $23 million.
The mining center will run on electricity generated by a local coal-fired power plant. Ivanov said that this is the cheapest available energy source. Electricity in Kazakhstan is cheap and produced in excess. At the same time, most of the excess electricity is currently exported to neighboring countries.
According to Ivanov, this gives the country good opportunities to become a world center for mining companies. Unlike in China, where electricity prices change depending on the season, the costs for the mining center in Ekibastuz remain almost unchanged throughout the year. Although the center’s clients will be able to mine any cryptocurrency, Enegix expects that most of them will mine BTC. According to Ivanov, the new center has already been visited by ViaBTC representatives, BTC.com, Canaan and Innosilicon.
The government of Kazakhstan is meeting the mining companies halfway. Last December, local legislatures introduced a bill according to which cryptocurrency mining will not be taxed if the extracted coins are not exchanged for Fiat money. In addition, in June, it became known that Kazakhstan received investments of $201.7 million from mining enterprises and plans to attract another $738.4 million from major miners in the next three years.