According to data released by the Ministry of Economy and Finance of Kyrgyzstan, the country's tax revenue from cryptocurrency mining activities in 2024 is 46.6 million Kyrgyz som, or about $535,000. This figure is down more than 50% from 93.7 million som (about $1 million) in 2023. Kyrgyzstan's tax on cryptocurrency mining is based on 10% of the electricity used by miners, including VAT and sales tax. Although the country has abundant renewable energy, especially hydropower, only a small part of it has been developed so far.