Illegal Bitcoin mining farm exposed in Kyrgyzstan Free Economic Zone
Government authorities and executives at Free Economic Zone “Bishkek” have been reportedly running an illegal mining farm that has been recently discovered by The State Service for Combating Economic Crimes, an anti-corruption service in the Kyrgyz Republic.
During on-site inspections, crypto mining devices were found and seized by local enforcement officials. According to local news agency 24.kg, authorities have initiated an investigation to expose the origins of miners and energy sources. Apparently, members of local government organizations and executives from the FEZ could have been among the ones involved in running and covering up this illicit activity.
FEZ Bishkek is located in the capital of the Kyrgyz Republic and has been running for more than 20 years to date. It is known for its cheap energy prices and has emerged as the heart of the establishment and expansion of private businesses in the Kyrgyz Republic, as well as global cryptocurrency mining firms.
Back in 2019, crypto mining firms consumed more energy than three local regions combined, therefore, local energy officials announced that the government will cut off power to 45 of these firms. Also, to increase government revenue from the emerging industry, this year Kyrgyzstan’s Parliament considered a bill to tax and initiated the regulation of crypto mining activities.