Golden Finance reports that according to the budget document released by the Ministry of Economy and Finance of Kyrgyzstan, the tax contribution of crypto mining in 2024 will be 46.6 million soms (approximately US$535,000), compared with 93.7 million soms (more than US$1 million) in 2023. dropped by more than 50%. The country’s mining tax rate for crypto miners is 10% of the electricity bill, including value-added tax and sales tax. Although Kyrgyzstan is considered an ideal location for mining due to its abundant untapped renewable energy, the decline in tax revenue may be related to the reduction in mining activity. According to the International Energy Agency, 30% of the country's energy supply comes from hydropower, but only 10% of its hydropower potential has been developed. (Cointelegraph)