Authorities Uncover KZT 9 Billion Illegal Power Supply Scheme to Mining Farms in East Kazakhstan
Photo: video screenshot
The Financial Monitoring Agency (FMA) and National Security Committee (KNB) have exposed a multi-billion-tenge scheme in which power companies from East Kazakhstan secretly supplied electricity intended for households and social facilities to cryptocurrency mining farms, Orda.kz reports.
According to the FMA, the illegal supply lasted for two years.
“Under the law, electricity can be sold to mining enterprises only through a single state buyer and in volumes not exceeding 1 megawatt-hour,” the agency explained.
In this case, the supplied amount exceeded 50 megawatt-hours — roughly what a city of 50–70 thousand people consumes in a year.
The illegal profit totaled 9 billion tenge. Investigators identified one person involved, who allegedly used the proceeds to purchase two apartments in Astana and four cars. The court has already seized the assets.
The investigation is ongoing.
Original Author: Ayanrafi Narikbaeva
Latest news
- Kazakhstan’s IT Market Slows After Years of Rapid Growth, but Salaries Keep Rising
- Why the Oil Price Spike Did Not Help Kazakhstan’s Budget Much, the Ministry Explained
- Why More Women in Kazakhstan Are Working Beyond the 40-Hour Week
- Drone Strikes on CPC Drag Down Kazakhstan’s Oil and Gas Output
- New Parking Rules Approved in Astana: How Much Will Drivers Pay and Who Is Exempt?
- Shell and Eni Replaced in Karachaganak Gas Plant Project
- Economist Calculates How Much Income Kazakhstanis Actually Keep
- Samruk-Kazyna Raises 3 Billion Yuan on AIX in Record-Low Panda Bond Deal
- Kazakhstan to Build Four New Airports by 2028
- State-Owned Plant in Atyrau Tried to Buy Sturgeon Caviar for Nearly 150 Million Tenge
- Chaos and Delays at the Border: Kazakhstan Wants to Bring Queues Under Control With New Rules
- Major Illegal Migration Channel Dismantled in Shymkent
- “A Shameful Sight”: Dump Near Altyn-Emel Caught on Video
- Kazakhstan Is Preparing to Increase the Scrap Fee on Cars From Russia
- Work Permits For Migrants To Go Fully Online As PSCs End Service
- Kazakhstanis Expect Higher Inflation but Remain Optimistic About the Future
- Support For Rural Doctors Doubles Amid Staffing Shortage
- South Korean Shareholder To Inject 4.7 Billion Tenge Into Kazakhstan’s Only Loss-Making Bank
- Tokayev Finishes Uzbekistan Trip With Focus on Trade and Environmental Cooperation
- Kashagan Operator Accused Of Stalling Sulfur Fine Pending Washington Arbitration
