Crypto mining was banned in Moscow, the encompassing Moscow Area and components of Kursk, with the restrictions set to run via Dec. 31, 2032.
The measure, established below authorities decree No. 936, additionally prohibits participation in crypto mining swimming pools. The decree was signed on July 25 and revealed on July 31, native media experiences.
Russia as an entire accounted for an estimated 175 exahashes per second, or 16.4% of Bitcoin’s world computing energy, within the first quarter, in accordance with Luxor’s Hashrate Index. That positioned it second behind the U.S., though it’s unclear what capability was positioned within the newly restricted area.
The nation’s Power Ministry stated a year-round restriction was wanted to cut back the danger of power-capacity shortages as energy-intensive mining services hook up with regional grids. Mining presently consumes roughly 1 gigawatt within the Moscow energy system, whereas the area’s goal=”_blank” rel=”noopener noreferrer”>Interfax reported after the decree was first signed.
Mining can also be linked to the nation’s Western sanctions.
Russian corporations had been utilizing domestically mined bitcoin in worldwide funds after authorized modifications designed to counter Western restrictions, Finance Minister Anton Siluanov stated in December 2024.
