Russian power grid titan eyes Bitcoin mining ventures

Key Takeaways
Rosseti Group is exploring cryptocurrency mining alternatives at underutilized power facilities.
The firm goals to coordinate mining infrastructure deployment and improve income and tax funds.
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Rosseti, Russia’s largest power grid operator, is exploring crypto mining operations at its underutilized power facilities and goals to change into a coordinator for mining infrastructure deployment throughout the nation, in accordance with state information company TASS.
“The Rosseti Group is the largest grid company in Russia and can act as an operator for coordinating the placement of mining infrastructure,” the corporate informed TASS.
The state-owned power supplier sees crypto mining as a chance to make the most of spare capability at low-load power facilities, which may improve each the corporate’s tariff income and tax funds whereas contributing to financial improvement.
The grid operator confirmed its technical readiness for mining operations, noting that its infrastructure is supplied with the mandatory switching gear to handle mining facility masses. The firm additionally maintains operational information on obtainable capability and consumption patterns to make sure dependable regional power provide.
Rosseti is at the moment discussing numerous facets of its mining improvement technique, together with the potential introduction of a separate tariff construction for miners as a requirement administration instrument.
Last August, President Vladimir Putin signed a regulation regulating crypto mining as a part of the nation’s digital asset administration technique. Under the regulation, solely registered entities and particular person entrepreneurs are allowed to interact in large-scale crypto mining operations in Russia.
Due to power shortages, the Russian authorities has banned crypto mining in a number of areas beginning January 1, 2025, extending by way of March 15, 2031.
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