Kazakhstan Prime Minister Bakytzhan Sagintayev Visits BNKA Energy’s Crypto Mining Firm
Prime Minister For Kazakhstan Visits Crypto Mining Firm
The Prime Minister of Kazakhstan, Bakytzhan Sagintayev has toured BNKA Energy LLP, the country’s largest crypto mining firm that is located in the northeastern region of Pavlodar.
Egemen Qazaqstan, reported on Friday that the Prime Minister visited the crypto mining facility that is in the small town of Ekibastus. While there, Sagintayev checked the mining cells that are in the first workshop and also examined the electronic meters in the control station.
The mining firm, BNKA Energy, which is said to be the provider of crypto mining services in the country was established on August 6 2018. The firm offers a variety of services to mining farms including hosting services, field placement of crypto mining rigs, monitoring and analysis of mining equipment as well as uninterrupted internet communications and electric power.
BNKA Energy currently considers itself as among the largest industries in the digital coins mining business. The firm apparently chose to set up its operations in the region of Pavlodar since there is plenty of cheap electricity supply and the low government’s tariffs for the any potential industries. In its bid to become a center for growing blockchain technologies, Pavlodar region has been working hard to attract crypto companies and crypto mining farms.
According to a report on the firm’s electricity consumption, the firm, which costs KZT5.7 billion (US$15.32 million) has been using about 4MW of energy. They plan to increase this consumption by 11MW in the second stage of their launch that will be on 20th of September, and then further increase it by another 18MW on November 20. By the end of 2018, the firm projects that it will be using about 33MW.
It is interesting that the launch of BNKA Energy came just a few months after the National Bank for Kazakhstan announced that it was seriously thinking of banning all activities related to cryptocurrency in the country. According to Sputnik, a local news outlet, the Governor for Kazakhstan’s National Bank, Daniyar Akishev said last March that they wanted to ban the exchange of digital currencies for the country’s national currency. He also said that they wanted to stop any stock exchange activities in the crypto currency industry and prevent any kind of digital currency mining in the country.