On December 24, the Russian government announced that starting from January 1, 2025, it will impose a complete ban on cryptocurrency mining in 10 regions for 6 years, while also implementing winter mining electricity restrictions in some areas to avoid energy shortages.
A complete ban on mining in ten regions affects individuals and mining pools.
According to local media reports, starting from January 1, 2025, until March 15, 2031, a total of ten regions in Russia, including Dagestan, Ingushetia, Chechnya, and the Luhansk People's Republic, will impose a complete ban on any form of cryptocurrency mining, affecting both individual mining and pool activities.
Winter is a peak period for energy consumption in Russia, so the Russian government has implemented seasonal restrictions in key mining areas within the country, such as Irkutsk, Buryatia, and Transbaikal, to prevent the local power system from being overwhelmed.
New policy adjustments attract attention to Irkutsk, a cryptocurrency mining hub.
Irkutsk is a key area for cryptocurrency mining in Russia, known for its low electricity prices. Large mining operator BitRiver was attracted to set up data centers there. The Russian government initially planned to designate Irkutsk as a mining ban area, but eventually modified it to implement seasonal restrictions, flexibly retaining some mining space. BitRiver has not commented on the specific impact of this policy.
The new mining ban continues the policy spirit, ensuring energy stability.
This mining ban is a continuation and refinement of the cryptocurrency mining law signed by Russian President Putin in August and October this year, emphasizing the need to guarantee stable energy supply while still retaining some mining business space. The impact on the cryptocurrency industry and the local economy still requires further observation.
The image is of the cryptocurrency mining bill signed by Russian President Putin in October.
(Former U.S. presidential candidate Robert F. Kennedy Jr. debunks the Economist's thesis on Bitcoin mining's energy consumption.)
This article 'Russia bans Bitcoin mining! A complete ban on mining in 10 regions for 6 years, with winter electricity restrictions in some areas' first appeared in Chain News ABMedia.
