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.
