Due to cryptocurrency mining activities Cryptocurrency is growing all over Russia. and make one local region of the country It is struggling to maintain energy stability. Among the Massive Influx of Crypto Mining Operations
Irkutsk region of Russia which is the Federal District and the center of Russia’s main trade route from China. It is experiencing a quadruple power consumption in 2021 due to mining activities. Local news agency TASS report on wednesday
Yevgeny Vechkanov, head of technology and development at local energy company Irkutsk Electric Networks, links the rapid growth of crypto mining operations with the rise of the major crypto market in 2021, including the Chinese ban on cryptocurrency. come into force in September “These factors are exacerbating the situation. This results in a fourfold increase in energy consumption compared to 2020,” he said.
Vechkanov added, Local people have set up crypto mining farms at their homes. This causes increased power consumption and frequent power outages.
Oleg Prichko, director of Baikal Energy Company, spoke about the increased energy consumption from the growing popularity of local mining. He claimed that seven Boeing 737s “loaded with mining equipment from China” arrived in Irkutsk in the first two weeks of January.
Andrey Zhbanov, head of the criminal investigation department, said: Some residents of Irkutsk even set up mining farms in kennels. “It might sound ironic. But it warms the dog. because mining causes high heat Which brings double benefits,” he said.
Irkutskenergosbyt which is a major local electricity supplier reported thatfiled a lawsuitA total of 137 cases against customers who used subsidized electricity to generate cryptocurrencies in mines located in basements and garages. The company reportedly expects to recover 63 million Russian rubles ($820,000) in damages.
The news comes shortly after Russian President Vladimir Putin said Russia’s surplus electricity had made the country “extraordinary”. “Competitive Advantage” in Crypto Mining
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