Russia’s Anti-Monopoly Agency Proposes Higher Electricity Rates for Home Cryp...
The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament. Russian Miners Using Household Electricity Should Pay Higher Bills, Anti-Monopoly Body Says Russia’s Federal Anti-monopoly Service (FAS) has designed a scheme to charge amateur crypto miners increased rates for the electricity they use. The agency insists its approach to solving the problem with....
Related News
Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals.
Electricity Consumption Spikes Amid Spread of Home Crypto Mining in Irkutsk
Power grid operators in Irkutsk have been dealing with a growing number of outages. The region and the city are experiencing a tangible increase in electricity consumption that....
Russia’s Irkutsk region saw its energy consumption rates surge by 160% following China’s crackdown on crypto mining. The Russian Ministry of Energy is looking to introduce special electricity tariffs for cryptocurrency miners following migration of the industry into the country from nearby China.Russian Energy Minister Nikolai Shulginov announced Wednesday that the authority is working on a new framework to differentiate tariffs between general usage and cryptocurrency mining, local news agency RBC reported Oct. 13.Shulginov said that cryptocurrency miners in Russia should not consume....
The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages.
Regions in Russia Granted Permission to Increase Costs for Home Mining
Russians mining cryptocurrencies at their homes may expect higher electricity bills as a result of a reform allowing regional authorities to limit the electrical energy supplied at preferential rates. The move comes after local utilities....
Despite the recent court ruling that overturned a previous decision to block access to at least five Bitcoin websites, Russia’s supervision agency has blacklisted one of the country’s most popular Bitcoin-related websites. On May 27, Russia’s Federal Supervision Agency for Information Technologies and Communications (Roskomnadzor) effectively blocked access to one of Russia’s most popular Bitcoin news websites, BitNovosti.com. When attempting to access the domain within the country, users are instead met with the following message from the authorities: “This site has been blocked by order....
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will have to pay a higher price for the electrical energy they need to mint digital currencies. The increase follows a government decision to update electricity rates across the board in order to “ensure the....