Russia will dedicate power plants just for crypto miners?

-

A top Russian politician has thrown out a fascinating idea, and asked what if the country built special power plants just for crypto miners?

Aisen Nikolaev, who heads the State Council Commission on Energy and also leads the Republic of Sakha is all in on this concept.

Off-grid power plants for crypto mining

Speaking to TASS, a state-run news agency, Nikolaev revealed that discussions are underway with the Ministry of Energy about creating these dedicated power stations. The catch is these plants wouldn’t be connected to the public grid.

This means they could cater exclusively to crypto miners, potentially easing some of the pressure on existing power supplies.

Nikolaev is optimistic about this plan, saying he’s confident that innovative solutions will soon emerge to balance the needs of crypto mining with the interests of local residents.

He pointed out that in certain areas of Russia, electricity use for mining has spiraled out of control, even leading to shortages and affecting power quality for homes and businesses.

Crypto mining is okay, but there are rules

Now, here’s where it gets a bit tricky, because Moscow has already imposed some restrictions on crypto mining in regions where electricity is scarce. Last year, they banned mining from November to March until 2031 in several areas.

Some local leaders are even pushing for year-round bans in popular Bitcoin mining spots.

It seems like they’re trying to keep things under control while still recognizing the potential of crypto.

The electricity is cheap, but this is the problem

But not all miners are playing by the rules. Authorities are battling illegal mining operations that have popped up in places like Dagestan and Siberia.

Just recently, police busted a mining farm disguised as a greenhouse

The owner had registered it as an agricultural facility to get subsidized energy rates but ended up with 69 mining rigs instead of veggies. Now, he’s facing legal consequences for his tactics.

Arsen Gadzhiev, who oversees Dagestan’s power provider Dagenrego shared that this operation caused an estimated 5 million rubles, or about $54,645 in damages.

Have you read it yet? Bitcoin will defend South African firm Altvest Capital aginst inflation

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

LATEST POSTS

The DeFi takeover will erase the centralized exchanges?

It’s the tale of two worlds colliding in the gritty streets of crypto trading, and lemme tell ya, the odds aren’t in favor of the...

USDT lives another day on five blockchains

Tether just flipped the script on its plan to freeze USDT on five blockchains. Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand was about say...

Words on the street that altcoin season is finally here

The buzz on the street? Altcoin Season 2025 has officially rolled in (it’s not an official name tho), and Bitcoin just gave the thumbs-up. The...

JP Morgan says Bitcoin’s $126K comeback will be epic

Imagine that Bitcoin is sitting quietly, almost too quietly, watching like a wise old capo from the corner office. JP Morgan just whispered that Bitcoin’s undervalued,...

Most Popular

Guest posts