Uzbekistan Issues First Crypto Mining License

Uzbekistan has officially issued its first crypto mining license. The National Agency for Perspective Projects approved a permit for NexaGrid. The mining project will be located near Bukhara. The company plans to deploy high-performance computing capacity in the region. As a result, cryptocurrency mining gains formal regulatory recognition.

NexaGrid was registered in Tashkent in early 2025. Its charter capital totaled 600 million Uzbek sums. Co-founder Toymurod Sultonov confirmed the approval. According to the company, this is the first such authorization nationwide. Previously, regulations existed, but no licenses were granted. However, the regulator has now activated the framework.

The agency introduced mining regulations in late 2023. These rules defined technical and legal standards. Companies must demonstrate compliance with safety requirements. They must also disclose equipment efficiency metrics. In addition, authorities require transparency on energy consumption.

Key compliance rules for licensed miners

Applicants must provide detailed operational disclosures. The regulator reviews infrastructure and financial data. License submissions must include:

• location of the mining facility
• ASIC hardware specifications
• energy efficiency indicators
• electricity sourcing agreements
• list of mined digital assets
• crypto wallet addresses

Energy use remains a central requirement. Companies are encouraged to use private solar generation. If grid electricity is used, a separate meter is mandatory. This policy reduces stress on the power network. But it also improves accounting transparency.

Licensed miners must submit regular activity reports. These filings cover operational performance and transactions. Non-compliance may trigger license suspension. The maximum suspension period reaches six months. In severe cases, courts may revoke permits.

The regulator sets a defined review period. Authorities must decide within 15 days. Approved applicants receive an electronic certificate. The document includes a QR code and validity term. Licenses remain valid for five years.

The first mining license marks a policy milestone. Uzbekistan strengthens oversight of digital asset activities. Yet it also opens a regulated path for mining investment. The move may attract infrastructure operators seeking legal certainty.

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