Three Mining Farms to Be Built in Uzbekistan as Part of $5 Billion Project
Uzbekistan is constructing data centers for cryptocurrency mining as part of a project valued at over $5 billion, according to local reports. Amanbay Orynbayev, Chairman of the Supreme Council of Karakalpakstan, announced this during the launch of new industrial facilities.
He stated that six data centers are being built in the Karakalpakstan region, which is being transformed into a designated mining zone. Three of these centers will specifically be used for cryptocurrency mining. The total investment for the project is $5.11 billion.
The creation of this special economic zone, named Bes Qala Mining Valley, was announced in April to boost the region's investment appeal, create jobs, and develop green energy. Key incentives for miners include a tax exemption on their income until January 1, 2035, and access to electricity from the national grid, renewable sources, and hydrogen power plants. They are also permitted to set up greenhouses heated by waste heat from mining operations.
To support the initiative, a major $3.3 billion wind power plant is being built in partnership with Saudi Arabia's ACWA Power. Two other wind farms, Nukus I and II, worth over $370 million, have already been launched. Orynbayev highlighted significant regional growth, noting a 2.5-fold increase in entrepreneurs and a 500-fold rise in foreign investment over the past decade.
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