Russia's government is considering imposing crypto-mining restrictions in 13 districts. Deputy Prime Minister Alexander Novak chaired a meeting on November 19 to examine the future of the electric power industry. Officials advocated banning mining in regions with poor power supply.
The plan focused on significant mining regions like Irkutsk and seized Ukrainian lands. Restrictions will remain in effect until 2031 throughout the autumn and winter heating seasons. Siberia and numerous republics in southern Russia have been affected.
These measures could have a big influence on Russia's cryptocurrency mining economy. Companies such as BitRiver rely on Irkutsk's cheap electricity. The region is home to BitRiver's largest data center, which opened in Bratsk in 2019. Miners are drawn to Siberian locations because of their hydroelectric potential, inexpensive electricity rates, and cold temperatures. Bratsk's power station alone has a capacity of 4,500 megawatts.
President Putin passed crypto mining legislation in 2024, but business detractors stress regulatory uncertainty. New regulations also prohibit foreign miners and permit regional mining bans. If granted, these limits will redefine Russia's crypto-mining scene, potentially shifting the global mining power distribution.
