February 2025: Cryptocurrency Mining Tax Boosts Budget by 7.4 Million Soms
Cryptocurrency Mining Tax Revenue Increases in Kyrgyzstan
Bishkek, 28 March 2025 – According to the latest data from the Ministry of Finance of Kyrgyzstan, cryptocurrency mining companies paid a total of 7.4 million soms in taxes in February 2025.
This amount shows a significant increase compared to the same period last year, when tax collections stood at 5 million soms. The growth in tax revenue from mining activities has risen by 1.5 times.
In the first two months of this year, the total tax collection reached 13.9 million soms, marking a 17.3 percent increase from previous years.
In 2024, the budget received only 53 million soms from cryptocurrency mining taxes, a 43 percent decrease from 2023 when revenues were at 93.7 million soms.
The current tax rate for cryptocurrency mining companies is set at 10 percent of the fee for electricity usage, which also includes VAT and sales tax. Currently, there are ten registered cryptocurrency mining companies operating in the country.
The increase in tax revenue from cryptocurrency mining activities is a positive sign for the Kyrgyz economy, showing growth and potential in the digital currency sector. As the industry continues to expand, it is expected that tax revenues will also increase, contributing to the overall economic development of the country.
