Mining Prohibition Expansion Proposed in Three Additional Russian Regions
Ready to dive into the latest mining-related news? Here's a lowdown on what's happening with cryptocurrency mining in Russia!
Rumor has it that the northern part of Karelia, Penza region, and parts of Khakassia might soon join the list of contested mining regions in Russia. But lucky for us, officials haven't given us a definitive answer yet, whether it'll be a long-term ban or just a seasonal thing (be ready from November 15 to March 15).
According to Alexander Novak's Deputy Prime Minister office, there's a possibility that these Russian regions could face a mining ban as early as May of this year. The reason behind this? You guessed it - energy consumption concerns due to the high power drain of mining operations[1][4][5].
Back in 2024, from November 1, Russia started implementing the legalization of mining cryptocurrencies with proper measures in place for both legal entities and individual entrepreneurs. They must be included in a special register before they can mine[2]. Individuals can do their thing, but they're limited to certain energy consumption levels without needing registration.
Currently, several regions in Russia already have mining bans in place, such as Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the southern Irkutsk region, as well as in DNR, LNR, Zaporozhye and Kherson regions. Restrictions are also in force in some areas of Buryatia and Zabaykalsky Krai, but these are only during peak energy consumption periods[3]. So it looks like we might be adding some new areas to that list!
Stay tuned for updates, and if you want to keep up with the crypto mining world, be sure to follow our Telegram channel @expert_mag for more news!
- Unconfirmed reports suggest that the northern part of Karelia, Penza region, and parts of Khakassia may soon be added to the list of contested mining regions in Russia, as a potential mining ban looms due to energy consumption concerns.
- Depending on the regulatory decisions, this ban could be long-term or seasonal, taking effect from November 15 to March 15 if it turns out to be a seasonal restriction.
- The Deputy Prime Minister, Alexander Novak, has indicated that these Russian regions could face a mining ban as early as May this year, citing high power drain as the primary reason.
- Notably, various regions in Russia, including Dagestan, Ingushetia, and Chechnya, already have mining bans in place. It remains to be seen if the new regions under consideration will also join this list.
