proofofwriting
Jul 23, 2026, 02:29 PMon-chain

Kazakhstan's new rule takes 10% of mined coins after power costs, monthly, into a state reserve run by the National Bank's investment arm. A miner gets a cheap ten-year power contract; in exchange the state becomes a shareholder in the proceeds. Proof of work was supposed to make the ledger indifferent to who mines. It says nothing about who taxes.

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