Foreign investors intend to build in the Pavlodar region of Kazakhstan new data center: the Polish company MineBest LLC are willing to spend on the project to $50 million dollars.

About the company’s plans to akim (the head of the local Executive authority) of the region Bulat Bakauov said the Director of the company Eyal Abramovich. He said:

“In the world market mining of cryptocurrencies we have been successfully working since 2007, and today Kazakhstan is one of the main strategic partners. Our company already registered in the international financial center “Astana”, which gives us the opportunity to officially work in Kazakhstan”.

The Abramovich noted that the data center needed cheap electricity. In addition, according to the businessman, 70% of the world’s hash comes from China. Today, however, is the question that China might prohibit the extraction of crypto currencies. This, in turn, will allow Kazakhstan and Ekibastuz in particular to occupy a niche of mining, suggested a Polish investor.

For his part, the Governor of the Department of physical reassured businessman: “We can offer you to connect to Ekibastuzskaya station JSC “KEGOC” power 1150 kW, but that is no design documentation, the creation of which will require a minimum of 7-8 months. There is an option to connect to the cell from Ekibastuz GRES-1. For this is already 90% ready project, and three kilometers from the station there is land suitable for the construction of a data center.”

Concluding the meeting, head of the region noted that potential investors can count on the full support.

As mentioned earlier, Kazakhstan in the framework of last year’s changes to acts of an International financial centre “Astana” (IFCA) virtually opened the doors of cryptocurrency and began the process of forming the necessary professional platform. The cryptocurrency has been allocated as a separate object reference. The activities related to the treatment of private cryptocurrency within IFCA, also identified as a separate market operations. Such activities can only be performed by members of IFCA (the crypto currency exchange) on the basis of a license.

Now the country has a national development Association and the blockchain technology, which intends to integrate Kazakhstan into the global blockchain ecosystem, as well as Kazakhstan Association of blockchain and cryptocurrency (KABK).

In August, Kazakhstan proposed to introduce the concept of “blockchain” and “cryptocurrency” in the Civil code.