Russia to Block Data Processing Centers from Mining Crypto with Cheap Power
2025-07-10 23:40:57
Main Idea
Russia plans to block data processing centers from mining cryptocurrency using subsidized power, requiring firms to pledge not to mine crypto in exchange for access to cheap electricity.
Key Points
1. A new bill in Russia will create an opt-in system where data centers can access subsidized power if they agree not to mine cryptocurrency.
2. Only operators who pledge not to mine crypto will be eligible for electricity benefits, with registry membership being voluntary.
3. Industrial mining experts in Russia, such as Intelion's Director-General, support the bill, stating it aligns with technological and regulatory goals.
4. Around 90% of Russian industrial miners focus on Bitcoin (BTC), though some also mine Ethereum (ETH).
5. Intelion and BitRiver reported combined revenues of $200 million in 2024, highlighting the scale of industrial mining in Russia.
Description
The Russian government is poised to ban domestic data processing centers from mining crypto if they use subsidized power. The Russian media outlet RBC reported that the government has revamped a draft law on mining that passed a first reading in the State Duma back in 2022. Government officials are now working with lawmakers on a bid to refine the bill ahead of a second reading. Inside a Russian data processing center. (Source: @regruvideo/YouTube/Screenshot) Mining Crypto Soon to Be Off-limits ...
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