According to TechFlow news on August 12, as reported by NewsBitcoin, Kazakhstan's financial regulatory body and the National Security Committee have jointly investigated and found that multiple power companies have illegally supplied electricity to cryptocurrency mining enterprises over the past two years. According to the country's (Digital Asset Law), cryptocurrency mining enterprises can only purchase electricity from a national platform designated by the Ministry of Energy, and they must only use electricity after confirming a surplus.
Investigations reveal that the electricity used in the case exceeded 50 million kilowatt-hours, equivalent to the electricity consumption of a city with a population of 50,000 to 70,000. The involved amount is approximately 16.5 million US dollars (9 billion tenge). Law enforcement has frozen two properties and four vehicles purchased by the main suspect in the capital.
Due to the tightening of regulatory environments, several mining companies, including Bitmain, have announced their withdrawal from the Kazakhstan market.