Russian authorities are considering introducing a separate <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> consumer category for <a href="https://ultramining.com/news/en/hut-8s-q2-2023-a-bitcoin-mining-marvel/">crypto miners</a>. This measure aims to regulate energy consumption and prevent power crises in regions where mining is overloading the grid. 
Deputy Minister of Energy Evgeny Grabchak stated that the uncontrolled growth of cryptocurrency mining could lead to electricity shortages. In regions like <a href="https://ultramining.com/news/en/irkutsk-governor-calls-for-tighter-crypto-mining-regulations-amid-tax-shortfalls-and-energy-crisis/">Irkutsk</a> and Buryatia, electricity consumption by miners has increased by 150% over the past year. 
The new category would allow for limiting or disconnecting miners during peak consumption hours. The draft law is expected to be submitted to the <a href="https://ultramining.com/news/en/russia-puts-the-brakes-on-private-crypto-mining-while-greenlighting-industrial-operations/">State Duma</a> in the coming months. This could reduce the grid load by $1.5 billion annually and ensure the stability of the energy system.

Russia Plans Separate Category for Crypto Miners to Regulate Energy Usage

Ultramining_Eng

Other articles published on Oct 7, 2024

Behind the Hype: Solana Founder Shares Insights on Meme Coin Success

Binance Secures Regulatory Approval in Argentina, Offering Full Crypto Services to Local Users

Shiba Inu (SHIB) Price Gives Advantage to Whales: Details

Spotlight on Qubetics: QubeQode IDE and $1.15M Presale Lead the Charge with Chainlink and Welshar...

Crypto strategist believes Bitcoin could hit $68K, but this altcoin might soar faster

Film Dokumenter XRP Unleashed Siap Tayang di November 2024

Join our free newsletter for daily crypto updates!