Tashkent will allow companies to mine cryptocurrencies using solar energy and will exempt all cryptocurrency operations of domestic and foreign companies from income tax.
This is stated in the decree of the President of Uzbekistan, and miners will power their farms by installing their solar panels. They can also connect to the grid but will pay twice as much for energy as ordinary consumers.
Miners will not have to obtain a license, but the company will need to register with the newly created National Agency for Advanced Projects.
Uzbekistan legalized cryptocurrency trading in 2018, but only on the domestic crypto exchange. The state has also launched several renewable energy projects, mainly solar and wind farms.
Neighboring Kazakhstan in 2021 became the second-largest bitcoin mining center in the world after the US. In the republic, harsh measures were taken against miners after their operations led to an overload of the energy system of Kazakhstan.