Russian Energy Minister Says Miners Should Pay More for Electricity

Nikolay Shulginov, Russia’s minister of power, informed the TASS company that cryptocurrency miners ought to pay greater than households for electrical energy in an effort to keep the reliability and good working of the electrical energy grid, the company reported Wednesday.

The Ministry of Energy is engaged on options, he mentioned, although it’s unclear if any specific payments or directives might be applied quickly.

The comment comes quickly after the top of Irkuts oblast, a area in Siberia common with crypto miners, complained miners are working their operations in residential buildings and consuming giant quantities of energy at retail costs.

Governor Igor Kobzev wrote to vice prime minister Alexander Novak earlier this week saying electrical energy consumption within the area had grown 159% since final 12 months. He blamed unlawful mining and the inflow of miners from China following that nation’s regulatory crackdown on crypto.

Roman Zabuga, a spokesperson for BitRiver, a significant mining farm within the area, mentioned crypto mining has flourished, alongside the rising bitcoin worth. However, fairly than Chinese, progress is coming from locals increasing present mining operations or beginning new ones.

“These miners are, in actual fact, utilizing electrical energy for households, on the worth that’s sponsored by the regional authorities, for enterprise functions,” he mentioned, including that particular tariffs for miners may be launched sooner or later.

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