Irkutsk authorities investigate illegal mining farms and seek to return seized equipment to owners while holding organizers accountable.
Russia imposes a crypto mining ban across 13 regions to manage energy consumption, effective December 1, with enforcement from November 15 to March 15 until 2031.
Russia plans to ban cryptocurrency mining from December 1, 2024, aiming to prevent electricity shortages in several regions, including North Caucasus, Irkutsk, and Donetsk. The restriction will last until March 15, 2031, potentially reducing energy system load by over 2 GW. Concerns arise over economic impacts and decreased technology investments.
Electricity consumption in Irkutsk has risen by 21% due to cryptocurrency mining, both legal and illegal. Authorities plan to address 'grey' mining by adjusting tariffs and monitoring usage.
Irkutsk Region considers banning crypto mining due to energy demands, aiming to stabilize power systems amid shortages.
High electricity tariffs in Crimea and Sevastopol make cryptocurrency mining costly and less profitable compared to other Russian regions. As a result, mining activities might decrease in these areas, shifting to economically favorable regions like Irkutsk and Dagestan.
Industrial miners in the Irkutsk Region oppose a proposed mining ban, arguing that it would harm the economy and increase "gray" mining. They suggest modernizing the power system and regulating the industry as alternative solutions.
A bathhouse in Irkutsk was discovered using electricity equivalent to 144 homes for crypto mining. The energy company filed a lawsuit, resulting in a payment of nearly 400,000 rubles. This highlights the issue of illegal mining and its impact on the power system.
Siberia faces electricity shortages as mining companies purchase almost all available power capacities, driven by low tariffs. Miners' consumption surged by 160%, burdening the infrastructure. Restrictions on mining are imposed in some areas, and experts suggest regulation and special tariffs to balance energy loads.
New electricity consumption limits in Irkutsk don't consider the region's harsh climate, causing concerns about prolonged heating needs. Governor Igor Kobzev seeks higher thresholds to ease the financial strain on residents.
Residents in Irkutsk region demand revising electricity tariffs, criticizing their impact due to harsh climate and lack of gasification. Over 10,000 have signed a petition seeking higher consumption thresholds for winter.
Russia faces power outages due to illegal "gray mining" of cryptocurrencies. This has led to increased electricity consumption and grid overloads. Authorities plan to introduce fines and confiscation measures to stabilize the energy system.
Russia plans to introduce a separate electricity category for crypto miners to regulate energy usage and prevent grid overloads.
The Russian Ministry of Energy proposes limiting power to crypto miners during peak hours to prevent grid overload, decreasing energy consumption by $1.7 billion annually.
Mining in Irkutsk region consumes more energy than the local hydroelectric station produces, causing energy deficits and regulatory discussions.
Authorities in Irkutsk propose miners create their own power generation to reduce the load on regional power grids, which are strained by mining activities consuming about 1 GW yearly.
Authorities in the Irkutsk region urge miners to create their own power generation to reduce the load on regional power grids due to the increased electricity consumption from mining activities.
Power consumption in Irkutsk region rises by 20% due to cryptocurrency mining, causing energy deficiency and concerns among regional authorities.
Russian crypto miners leverage subsidized residential electricity rates, sparking government crackdowns due to grid stress and frequent outages.
Russian miners face uncertainty as a new law allows local authorities to prohibit operations without specific reasons, causing potential widespread disruptions.
Russian authorities seized 500 illegal crypto mining rigs from Irkutsk residents, causing over 200 million rubles in damages. A criminal case has been initiated.
