The proposed tax for bitcoin mining operations in this country may be sustainable for miners. However, it may be a short-term solution that enables these companies to return online.
The country has gone from a profitable investment for early BTC miners to an operational nightmare. According to Wired, as of January 2022, most of Kazakhstan's miners were at a loss.
Arken Research data records a loss of $ 4.8 million per hour as these miners stay offline. The country has about 90,000 mining equipment, which is close to 8% of Kazakhstan's electrical capacity.