Shymkent residents illegally mined Bitcoins worth 100 million tenge

Tengrinews.kz – Two residents of Shymkent set up an illegal cryptocurrency mining operation, earning over 100 million tenge.
According to the Financial Monitoring Agency (FMA) of Kazakhstan, two individuals ran a mining farm between April 2023 and February 2024 that generated a significant profit of more than 100 million tenge.

“They were sentenced to two years in prison and 2.5 years of restricted freedom, respectively, with the confiscation of nearly 370 million tenge worth of assets, including 1,000 ASIC miners (equipment used for Bitcoin mining) and illegally mined digital assets (Bitcoins),” the statement said.

Since the start of this year, four cases of illegal mining operations have been uncovered, with criminal proceeds totaling nearly 400 million tenge.
The FMA noted that illegal activity in the cryptocurrency mining sector leads to risks that threaten the country's economic security, as well as increased risks of power shortages and disruptions in electricity supply to consumers and businesses.
Previously, a mining farm was uncovered in Astana.