The Russian government has announced a ban on cryptocurrency mining across 10 regions, effective from January 1, 2025, to March 15, 2031. This decision aims to address energy management concerns and aligns with recent crypto regulations enacted in 2024.
The affected regions include:
Dagestan
Ingushetia
Kabardino-Balkaria
Karachay-Cherkessia
North Ossetia
Chechnya
Donetsk People’s Republic
Lugansk People’s Republic
Zaporizhzhia
Kherson
Additionally, seasonal restrictions on mining will be introduced in parts of Siberia, including Irkutsk, Buryatia, and Zabaikalsky regions, during peak winter months. These restrictions will apply from January to March 2025, and later from November to March annually.
The Irkutsk region, a key hub for mining operations due to its low electricity costs, may face significant challenges. Notably, leading mining firm BitRiver, which operates a major data center in Bratsk, could see its operations impacted.
This regulatory move highlights Russia's effort to balance energy demands while addressing the growing cryptocurrency industry.