Due to the explosive growth of cryptocurrency mining, <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a> consumption in the <a href="https://ultramining.com/news/en/irkutsk-governor-calls-for-tighter-crypto-mining-regulations-amid-tax-shortfalls-and-energy-crisis/" rel="noopener noreferrer nofollow">Irkutsk</a> region has increased by 20% since 2022. The southern part of the region has become energy-deficient, and mining now consumes about 1 GW of electricity per year. For comparison, the installed capacity of the Irkutsk Hydroelectric Power Plant is 760 MW.
Regional authorities are concerned and are proposing that miners create their own power generation. In August, they appealed to the federal government to define procedures for prohibiting mining in energy-deficient areas.
Low electricity tariffs have made the Irkutsk region a center for mining in <a href="https://ultramining.com/news/en/russia-s-energy-ministry-charges-forward-to-legalize-crypto-mining/" rel="noopener noreferrer nofollow">Russia</a>, but this leads to increased load on the power system and infrastructure.

Power Consumption in Irkutsk Region Increases by 20% Due to Mining

Ultramining_Eng

Other articles published on Sep 30, 2024

Ethena Proposes Ethereal DEX Integration for USDe Management

Major Economic Events Set to Influence Markets This Week as Q4 Begins

Does Ethereal’s Proposal Impact ENA Prices?

Ohio to consider accepting crypto for tax payments and fees

Ethereum ETF Attracts $84.6M in Week Yet Lags Behind Bitcoin

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!