BAKU, Azerbaijan, September 15. Kazakhstan's
national crypto reserve has reached $700 million, with around $200
million already invested.


This was announced in a statement published by the Kazakh
government.


“Under the instructions of the Head of State, the National
Crypto Reserve has been established. Its current volume is $700
million. Last year, $350 million was allocated to it, and another
$350 million this year. The portfolio is managed by the National
Bank's National Investment Corporation. Around $200 million of the
$700 million has already been invested, mainly through hedge funds
operating with liquidity in crypto markets,” the statement
said.


According to the information, the direct investments in Bitcoin
have not yet been made. Funds have been allocated, among other
instruments, to exchange-traded funds (ETFs), securities backed by
digital assets, including Bitcoin and others.


A national crypto custody service has also been established on
the basis of the Central Securities Depository, allowing Bitcoin
and other digital assets to be held if necessary.


The government said the crypto reserve could be expanded in the
future, including through confiscated crypto assets.







Vice Minister of Artificial Intelligence and Digital Development
Gizzat Baitursynov said during the government's meeting that tax
revenues from digital mining in Kazakhstan reached 22.4 billion
tenge (about $50 million) in 2025, up from 9.9 billion tenge (about
$22.1 million) in 2024.


Baitursynov noted that the increase in revenues was driven by
taxation mechanisms established under the 2023 law on digital
assets. In addition to corporate income tax, miners pay a separate
fee linked to the amount of electricity they consume. The current
rate is 2 tenge per kilowatt-hour.


The vice minister also said the ministry would study the
experience of other countries where mining companies operate under
preferential tax regimes.


The analysis is expected to be conducted within a month in
cooperation with relevant government agencies and market
participants. Based on its results, possible amendments to
legislation are planned to be submitted during the current Kurultai
session.


The conversion was made using the National Bank of Kazakhstan's
exchange rate of 447.8 KZT per $1 as of September 15, 2026.