Driving Sustainable Digital Asset Mining
Kazakhstan's AQGroup and Singapore's MVGX Group Lead the Charge to Decarbonize Web 3.0
Launching the first of its kind tokenised fund raising and carbon credit trading platform, to enhance Kazakhstan's Role in the Global Digital Economy through Eco-Friendly Digital Mining Operations
SINGAPORE, Oct. 4, 2024 /PRNewswire/ -- AQGroup, Kazakhstan's leading green electricity producer and a leader in infrastructure development for computing services - including data centers for artificial intelligence, digital mining, and international IT companies, together with MVGX Group, a pioneering Singapore-based digital green fintech group led by MVGX Holdings Pte. Ltd. are proud to announce a first-of-its-kind strategic partnership. This partnership seeks to leverage on the knowledge, expertise and know-hows of three key members of the MVGX Group in relation to their respective industries - Metaverse Green Exchange Pte. Ltd., MetaComp Pte. Ltd. and MVGX Tech Pte. Ltd.
The two groups have formally signed a Memorandum of Understanding (MoU) during the prestigious global conference, "Token 2049 Singapore", marking the beginning of an ambitious collaboration. This MoU outlines plans to construct an innovative hybrid green power plant that combines wind, solar, and battery energy storage systems, ensuring a sustainable supply of green electricity to AQGroup's Data Centres. Additionally, it lays the groundwork for the establishment of a joint carbon credit trading exchange in Kazakhstan, driving forward a shared vision for sustainable energy solutions and carbon market development in the region.
Kazakhstan, the world's 9th largest country by territory, holds enormous potential for green energy production through wind and solar power plants (WPPs and SPPs) equipped with energy storage systems. The country's proximity to China offers unique advantages, including access to high-quality equipments for WPPs and SPPs, alongside significant savings on logistics.
Additionally, the Kazakhstani government with its favorable government regulations—such as a 10-year tax exemption for renewable energy projects—offers a highly supportive environment for green energy development. Their advantageous geographical location between Europe and Asia, positions the country as an emerging regional hub for Data Centres, providing computing services to global markets.