Russia temporarily halts cryptocurrency mining in several regions to save electricity 🌐

- The Russian government has decided to temporarily halt cryptocurrency mining in some regions this winter to address the electricity shortage. Affected areas include Irkutsk, Buryatia, Zabaikalsky in Siberia, and six regions of the North Caucasus such as Chechnya and Dagestan.

- The suspension also applies to regions controlled by Russia in Ukraine, such as Donetsk and Luhansk. The ban in Siberia lasts from 12/1 to 3/15/2025, while the North Caucasus and the banned regions in Ukraine are restricted year-round from 2024 to 2031.

- Russia is currently the second-largest cryptocurrency mining center in the world after the USA, consuming 16 billion kWh each year for this activity. ⚡