Kyrgyzstan’s Budget Gains 20.9 Billion Soms from Crypto Mining Tax in 2025
Kyrgyzstan’s Crypto Mining Tax Revenue Surges in 2025
Bishkek – 12:58, 06 May 2025 – 24.kg news agency, by Baktygul Osmonalievie
Kyrgyzstan has experienced a noteworthy boost in its budget revenues from cryptocurrency mining taxes this year, with nearly 21 million soms collected since January. According to the Ministry of Finance, this figure reflects a strong performance from crypto mining companies, which contributed a total of 20.987 million soms to the state budget in the first quarter of 2025.
The month of March saw the largest single-month tax contribution, exceeding 7 million soms. In contrast, the combined revenue for January and February reached 13.9 million soms, indicating a steady growth trend.
Compared to the same period in the previous year, the increase in tax transfers from cryptocurrency mining represents a remarkable rise of over 30%. In 2024, Kyrgyzstan’s budget garnered only 53 million soms from crypto mining taxes, which was a significant drop of 43% from the 93.7 million soms collected in 2023.
The current tax system imposes a rate of 10% on the cost of electricity consumed by mining operations, which also includes value-added tax (VAT) and sales tax. At present, there are ten officially registered cryptocurrency mining companies actively operating within the country.
The rising revenues from the crypto mining sector are a positive sign for Kyrgyzstan’s economy, showcasing the potential of digital currency operations in contributing to local fiscal health. As the sector continues to evolve, these tax contributions may play a crucial role in stabilizing and enhancing the national budget in the years to come.
