Russia will restrict cryptocurrency mining in some regions due to energy shortages

2024-10-30 21:49:53

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ChainCatcher news, Russian Deputy Energy Minister Evgeny Grabchak announced that due to ongoing energy shortages, Russia will restrict cryptocurrency mining in specific regions. The affected areas include the Far East, southwestern Siberia, and southern regions with limited power resources. The power shortage may persist until 2030, making large-scale mining difficult to sustain in the long term. The state news agency TASS confirmed the ban.

Law enforcement actions have been launched against illegal or household mining. On October 28, Russian authorities arrested a resident of Novosibirsk who was suspected of power fraud related to cryptocurrency mining, profiting over 12 million rubles (approximately $123,000). The case is still under further investigation.

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