Russia to transform Far East into a major Crypto mining hub
2025-02-03
Category: None

The Russian Far East could become the recently developed crypto-mining hub of the nation, having new and idle power centers ordered to initiate backing Bitcoin mining rigs. 
The Deputy Prime Minister of Russia, Yuri Trutnev thinks this would resolve the electricity surplus problem in the region, as reported by Amurskoye Oblastnoe Televidenie. Trutnev alleged that holding energy reserves is expensive. 
Also, he highlighted that using those energy reserves to power crypto miners could aid in offsetting costs. Trutnev commented at a meeting on the development of the electric power industry in the Far Eastern Federal District. Submission of data on electricity needs
Trutnev also alleged that the number of investment projects in the area was involved in growing and that the region should make a reserve of capabilities for them in advance. To halt these from sitting idly, he said, they should be utilized for crypto mining. 
He further mentioned that we are optimistic that we will soon witness an uptick in investment projects in the Far Eastern Federal District. So, it would be a great idea to make a reserve of capacity. 
And, if there is additional electricity, we should set it aside for mining, as simply keeping it in reserve is expensive. If it is leveraged for mining, we will not experience any costs. The incentive should be continued in all of the Russian Far East’s areas. 
He has so far followed up by ordering Far Eastern areas to submit data on their electricity needs. He also wishes to know their plans for the making of power-generating facilities. The aim of Russia regarding crypto is increasing pace, highlighting an almost unparalleled U-turn from Moscow. The negligible difference 
Towards the end of the last month, the power grid provider of the country, Rossetti revealed it wished to help determine the location of new crypto mining centers in Russia. It proposed to take responsibility for coordinating mining facilities over the nation to load up unutilized and low-usage power centers. 
The energy company operates more than 80% of all the country’s electrical power networks. Other energy giants like oil and gas giant Gazprom have introduced crypto mining subsidies. And, the largest crypto mining player of the country BitRiver has revealed plans to work with the Russian state to make crypto mining data centers in BRICS nations. 
At the same time, RBC revealed that the latest crypto legislation of the government has only made negligible differences to the way miners work. In 2024, Moscow legalized crypto mining, officially identifying it as a form of entrepreneurship. 
The rules indicated that most private miners can carry on to mine coins, and said that they do not surpass a threshold of 6,000 kWh of energy per month. 