Michaela
Rosseti, Russia’s leading energy provider, has reportedly begun exploring crypto mining to harness unused electricity from low-consumption power plants, with plans to potentially develop mining centers across the country.
The Russian state-run news agency TASS reported that Rosseti is preparing to establish itself as an “operator for hosting mining infrastructure.”
The electric grid operator is reportedly exploring the creation of crypto-mining centers powered by underutilized power plants. This development comes as Russian authorities continue their crackdown on electricity theft by unauthorized Bitcoin miners.
This initiative marks a significant shift for Rosseti, which has previously focused much of its efforts on targeting unauthorized and unregulated crypto miners across various regions of Russia.
Russia has largely permitted Bitcoin mining in areas with excess energy capacity, particularly following sanctions imposed by Western nations. However, authorities have intensified efforts to clamp down on mining activities in certain Russian regions and parts of occupied Ukraine.
“The Rosseti Group is the largest grid company in Russia. We can act as the operator that coordinates the placement of crypto mining infrastructure,” the company stated, according to TASS.
Additionally, the TASS report explained that Russia has areas with low electricity demand, and Rosseti plans to capitalize on this surplus by using the excess power to support crypto mining operations.
“In this regard, the company is also interested in developing mining, since this will facilitate the use of free capacity, increase the load of power supply centers, increase the company’s tariff revenue, as well as the development of the economy and the growth of tax payments,” the company stated.
Rosseti plans to attract miners to low-demand regions by offering discounted tariffs and implementing a power management system to oversee and regulate their energy usage.
Meanwhile, according to a report from Kommersant, Andrei Ryumin, the head of Rosseti Group, has sent a letter to Prime Minister Mikhail Mishustin seeking approval to manage the allocation of crypto mining infrastructure nationwide.
Rosseti officials stated that the company is keen on developing crypto mining, as it would help utilize idle energy capacity. The company also expects to “boost the load on power supply centers and generate increased tariff revenue.”
Additionally, the company emphasized that these efforts would contribute to “driving the growth of the Russian economy” and “enhancing tax revenues.”
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
