Russia releases new rules limiting private crypto mining electricity to 6,000kWh per month, which impact operations and licensing requirements.
Russia Regulates Home-Based Crypto Mining Energy Use
The Russian government has introduced a 6,000kWh monthly electricity cap for private or home-based crypto mining operations. Miners who exceed this limit must apply for a business license, complying with new regulations aimed at overseeing crypto mining energy consumption.
New Licensing Requirements for High-Usage Miners
Miners using more than the 6,000kWh cap need a special license to continue their operations legally. This requirement, effective from November 1, follows new crypto laws that recognize mining as a legitimate business but impose strict oversight on higher energy users.
Government Registration for Large-Scale Mining
Any miner exceeding the cap must register with the Federal Tax Service and disclose wallet addresses and mined crypto details. Anton Gorelkin, Deputy Chairman of the Duma’s Committee on Information Policy, assured that access to this data is restricted to government officials only.
Restricted Access to Mining Data
Gorelkin noted that only certain government bodies, like Rosfinmonitoring and the Federal Security Service (FSB), can access miners’ registry information. This limitation helps shield Russian crypto miners and businesses from potential sanctions while allowing authorities to monitor mining activities.
Bans on Mining in Specific Regions
Miners in regions with existing crypto bans are barred from operating under the new regulations. Individuals who have declared bankruptcy or provided false information will face restrictions on participating in specific mining pools.
Bitcoin and Ethereum Mining Priorities
While Bitcoin remains the top focus for large industrial miners, many smaller, home-based miners in Russia prioritize Ethereum. The new rules affect both groups, depending on the scale and location of their operations.
Looking Ahead in Russian Crypto Mining
These new regulations introduce a complex but defined structure for private crypto mining, requiring energy monitoring and licensing. The government’s approach balances legitimizing the industry while curbing its electricity demands.
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