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Bitcoin miners’ exit from China start to disrupt Russia energy supply

The departure of Bitcoin miners from China is starting to affect Russia’s energy supply.

Bitcoin miners' exit from China start to disrupt Russia energy supply

Bitcoin miners’ exit from China start to disrupt Russia energy supply

According to the Russian government, cryptocurrency mining may be subject to special tariffs for electricity services in the country. The information was given by the Ministry of Energy of Russia, Nikolai Shulginov.

“To maintain the reliability and quality of the electricity supply, we believe it is necessary to rule out the possibility that miners consume electricity at rates to the population,” commented Shulginov.

According to the Russian spokesman, the country does not allow miners “to make the situation worse at the expense of reduced rates for the population”. He was referring to possible power cuts in certain regions of the Eurasian giant.

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Before Shulginov’s statements, the governor of the Irkutsk region, Igor Kobzev, had already expressed his concern about the activity.

He specifically highlighted the impact of mining on the region’s electricity supply. In addition, he mentioned the overload of transmission lines and the risk of accidents at the plants.

The Irkutsk region has been attracting Bitcoin miners because it has the lowest rates in the country. Therefore, it can be considered a privileged area for those who want to mine cryptocurrencies in Russia.

However, it is possible that the new measure aimed at raising rates for miners will end this advantage.

The Russian government’s concern comes amid a wave of migration from Bitcoin miners. After all, in recent months, China has promoted a series of attacks against the activity and cryptocurrencies in general.

The bans led those engaged in this activity to seek new horizons, including Russia and the United States. The latter became one of the main destinations. Recent reports suggest that 30% of Bitcoin mining power is now concentrated in the US.

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  1. Pingback: China is thinking about unbanning bitcoin mining after price rise and started a new research - Digest Time
  2. Trackback: China is thinking about unbanning bitcoin mining after price rise and started a new research - Digest Time

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