Uzbekistan Plans 15% Electricity Discount for Cryptocurrency Mining and Data Centers

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan plans to introduce a 15% discount on electricity for cryptocurrency mining and the operation of data centers. This was announced on 6 March during an open dialogue of the government commission with entrepreneurs and investors in Bukhara Region by Deputy Minister of Energy Umid Mamadaminov.

Mahmudzhon Rozimurodov, founder of NexaGrid, which received the country’s first cryptocurrency mining license in January, highlighted strong interest from foreign investors from the U.S., Saudi Arabia, and China in mining projects with subsequent establishment of data centers in Uzbekistan. The entrepreneur requested that the government provide incentives for Bukhara Region similar to those in Karakalpakstan. He noted that affordable electricity is key, as the installed solar panels and transformers only require connection and activation.

Deputy Prime Minister Jamshid Khodjaev emphasized that the incentives in Karakalpakstan are just the first step, with two to three projects already underway, and that the government plans to submit a proposal to the president to reduce tariffs for other major projects in various regions. The vice-premier instructed the Ministry of Economy and Finance and the Ministry of Energy to develop specific proposals for preferential tariffs in Bukhara Region.

Umid Mamadaminov added that the draft resolution, providing a 15% discount on the current Group II electricity tariff for data centers and cryptocurrency mining, is under review by the relevant ministries. He noted that the discounts will apply nationwide, not only in Bukhara Region.