**Kyrgyzstan's Crypto Mining Tax Revenue Drops Despite Rising Valuations**

Kyrgyzstan's economy experienced a notable decline in revenue from cryptocurrency mining taxes in 2024, despite rising crypto valuations. The tax contributed over 46.6 million Kyrgystani soms ($535,000) this year, marking a 50% drop from the 93.7 million soms ($1 million) collected in 2023. The country's 10% crypto mining tax is based on electricity usage, including VAT and sales tax. Kyrgyzstan is considered ideal for mining due to its abundant renewable energy, with over 30% of its energy from hydroelectric sources, though only 10% is currently developed.