According to Foresight News, Cointelegraph reported that the budget document released by the Ministry of Economy and Finance of Kyrgyzstan showed that the tax contribution of crypto mining in 2024 was 46.6 million soms (about 535,000 US dollars), down more than 50% from 93.7 million soms (more than 1 million US dollars) in 2023. The country imposes a mining tax rate of 10% of the electricity bill on crypto miners, including VAT and sales tax. Although Kyrgyzstan is regarded as an ideal place for mining with its abundant undeveloped renewable energy, the decline in tax revenue may be related to the reduction in mining activities. According to data from the International Energy Agency, 30% of the country's energy supply comes from hydropower, but only 10% of its hydropower potential has been developed.