Russia Cracking Down on Crypto Miners Minting in Residential Areas.
15 Dec 2022, 08:00
Russia Cracking Down on Crypto Miners Minting in Residential Areas
Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates.
Amateur Crypto Miners in Russia Under Pressure Despite Lack of Regulation for Home MiningElectricity distribution companies in Russia have started to identify improvised mining farms in residential buildings by the rising volume of energy consumption and higher loads on the grid at substations, Deputy Ministry of Energy Pavel Snikkars revealed to the Russian press.
The government official told the daily Izvestia that authorities are going after the “illegal miners.” While crypto mining is yet to be regulated and such activities are not explicitly prohibited right now, utilities can prove in courts that these consumers are not using the electricity for domestic needs.