Russia is cracking down on crypto mining, imposing a six-year ban in 10 key regions starting January 2025. This drastic move is designed to prevent energy blackouts and manage the country’s power supply. According to local news agency TASS, the ban will last until March 15, 2031, affecting both large mining operations and individual miners.
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Crypto Mining Faces Seasonal Restrictions in Siberia
In addition to the blanket ban, Russia is implementing seasonal restrictions in three Siberian regions. These areas will see mining operations limited during peak energy consumption periods, from January 1 to March 15 and again from November 15 to March 15 in the following years. These restrictions apply to the Irkutsk, Buryatia, and Zabaikalsky regions, where energy demand tends to soar during the cold months.
Crypto Industry Faces Uncertainty amid Restrictions
Initially, lawmakers considered banning crypto mining in 13 regions, but they’ve since scaled back to focus on the 10 most critical areas. Irkutsk, home to major mining firm BitRiver, will be particularly impacted. The region’s cheap electricity has been a major draw for miners, but now, those operations face significant disruptions. According to local sources, BitRiver, which has a large data center in Bratsk, has not commented on how the ban will affect its business.
While these regulations are aimed at managing energy consumption, Russia’s crypto mining industry faces a tough future as these restrictions come into play, with some regions now seeing more complex seasonal rules instead of full bans. It remains to be seen how this will affect global mining dynamics.
