An unregistered cryptocurrency mining farm was unearthed within a seemingly innocuous poultry shop located in Kokand. The potential devastation stemming from this undercover operation is tentatively calculated at a staggering UZS 2.5 bn ($208,000).
This discovery was made during a meticulously executed nighttime preventive raid conducted by the diligent teams of JSC "Fergana Enterprise of Territorial Electrical Networks" and other relevant authorities. The illicit mining operation had covertly established its base of operations in the Achchikkul mahalla, facilitated by an individual identified as Citizen M. N., who had secretly connected the farm to the power grid without any official documentation.
Preliminary investigations suggest that the unauthorized energy consumption reached a jaw-dropping 2.8 min kWh, further compounding the gravity of this transgression. This unauthorized power draw is now appraised at the staggering sum of UZS 2.5 bn ($208,000).
The violator now faces severe consequences, as a legal protocol has been issued, demanding a substantial penalty of UZS 12.3 bn ($1 mn). The illegal cryptocurrency miners are subject to a 5-fold increase in electricity tariffs, according to the state-owned enterprise.
This discovery in Kokand comes amidst a spate of similar incidents across Uzbekistan, with the majority concentrated in the Navoi region, where authorities have managed to shut down multiple operations in recent months. At least two more unregistered miners were apprehended in Tashkent and the capital region. This year alone, a total of 7 such cases have been reported across 5 different regions.
To combat this burgeoning issue, Shavkat Mirziyoyev signed legislation in September authorizing substantial fines for individuals engaged in cryptocurrency activities without proper registration. Unauthorized mining, in particular, can now incur a fine of 150 BDV (equivalent to UZS 49.5 mn or $4050). The National Agency for Project Management and Electronic Government (NAPE) has also taken steps to streamline the registration process for miners, with official procedures having been approved in October.
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