Russia Bans Crypto Mining in Moscow Region Until 2032
Russia Bans Crypto Mining in Moscow Region Until 2032
A new decree from Russian authorities has officially banned cryptocurrency mining operations across the Moscow region until 2032. The move comes after regional energy officials voiced concerns that mining activities consume a significant 1 GW of power, posing a risk of future electricity shortages.
Russian Decree Bans Crypto Mining in Moscow Region
A decree issued by Russian authorities has imposed a ban on cryptocurrency mining throughout the Moscow region, which will remain in effect until 2032. This decision was prompted by estimations from regional energy officials, who reported that crypto mining operations consume an astonishing 1 gigawatt (GW) of power. Officials expressed concerns that such high energy consumption could lead to future electricity shortages within the region, necessitating the restrictive measure.