Russia’s crypto mining sector is booming, with demand for equipment tripling in just a year. What’s behind this rapid growth?
According to a latest report from the Russian news agency PRIME, in Q4 2024, Russia saw a threefold increase in demand for industrial mining equipment and services compared to the same period the year before.
This growth aligns with legislative changes introduced by President Vladimir Putin in the summer of 2024. Under the new laws, which came into effect on November 1, 2024, businesses and individual entrepreneurs can engage in crypto mining once they are officially registered in the national miners’ registry.
Under the new regulations, both legal organizations and private entrepreneurs can engage in mining after registering in the government database. Individual miners are not required to register as long as their monthly energy consumption does not exceed 6,000 kWh. However, if they surpass this threshold, they must officially register as business owners.
Sergey Bezdelov, the director of the Association of Industrial Mining, noted that these regulatory adjustments have not only clarified the legal parameters for mining but have also established it as a reliable source of income, thereby expanding the industry’s potential and trustworthiness within the economy.
You might also like: Vladimir Putin: Bitcoin can’t be stopped
However, as the industry grows, the Russian government is introducing new restrictions to manage energy consumption across various sectors. A draft resolution published by the government proposes a ban on mining in certain regions from January 1, 2025, to March 15, 2031.
This ban will affect areas such as Dagestan, Chechnya, and Ingushetia, as well as specific locations in Irkutsk, Buryatia, and Zabaikalsky Krai, especially during peak energy demand periods.
The government has cited energy shortages and price disparities as key reasons for these restrictions. In subsidized regions with low electricity rates, miners have placed colossal strain on local power grids. Moreover, on November 18, 2024, Russia introduced a 15% tax on profits from Bitcoin mining.
Industry experts, including Bezdelov, suggest that investors consider allocating up to 5% of their portfolios to crypto mining. Bezdelov views mining as a viable diversification strategy, offering potential long-term stability and returns, even in a market known for its volatility.
You might also like: Lawmaker warns crypto miners in Chechnya will be treated like terrorists in 2025
where to get generic clomid get cheap clomid prices where buy cheap clomid tablets where can i get generic clomiphene tablets where to get generic clomid tablets how to buy clomiphene pill how can i get clomiphene no prescription
The depth in this serving is exceptional.
With thanks. Loads of expertise!
order generic zithromax 250mg – buy sumycin buy flagyl generic
rybelsus 14mg for sale – order periactin 4mg order cyproheptadine 4mg generic
domperidone 10mg oral – motilium pill flexeril usa
buy augmentin sale – at bio info where can i buy acillin
order esomeprazole capsules – https://anexamate.com/ esomeprazole 40mg price
buy warfarin cheap – https://coumamide.com/ order losartan 50mg sale
buy mobic 15mg pills – https://moboxsin.com/ cheap mobic
order deltasone pills – https://apreplson.com/ order deltasone 40mg pills
mens erection pills – cheap erectile dysfunction pill non prescription erection pills
buy amoxil for sale – combamoxi.com purchase amoxicillin for sale
This is the tolerant of enter I turn up helpful.
More posts like this would persuade the online time more useful.
fluconazole 100mg ca – click buy fluconazole 100mg pill
order cenforce 50mg generic – https://cenforcers.com/# brand cenforce 100mg
cialis 2.5 mg – https://ciltadgn.com/ cialis 100mg review
pastillas cialis – is tadalafil as effective as cialis letairis and tadalafil
order zantac 300mg for sale – this zantac 300mg ca
viagra sale leeds – buy viagra nz viagra professional 100 mg pills
This is the kind of writing I truly appreciate. https://gnolvade.com/
I am in point of fact thrilled to gleam at this blog posts which consists of tons of of use facts, thanks object of providing such data. buy generic amoxicillin over the counter
Greetings! Very productive recommendation within this article! It’s the crumb changes which wish turn the largest changes. Thanks a quantity quest of sharing! https://ursxdol.com/sildenafil-50-mg-in/
I am in point of fact happy to coup d’oeil at this blog posts which consists of tons of of use facts, thanks for providing such data. https://prohnrg.com/
More posts like this would force the blogosphere more useful. https://aranitidine.com/fr/sibelium/
Thanks for sharing. It’s acme quality. https://ondactone.com/spironolactone/