Russia’s Ministry of Energy has proposed a ban on cryptocurrency mining in several regions from December 1, 2024, to March 15, 2025, with the possibility of extending the restrictions. This was reported by Kommersant.
The list of federal subjects includes cities and districts in the Irkutsk region, Buryatia, and the Trans-Baikal Territory. After March 15, 2025, cryptocurrency mining will be prohibited annually during peak load periods—from November 15 to March 15—until 2031.
In the republics of Karachay-Cherkessia, Kabardino-Balkaria, North Ossetia-Alania, Ingushetia, Chechnya, and Dagestan, a total ban is proposed from December 1, 2024, to March 15, 2031.
The Ministry of Energy described the proposed measures as appropriate for Russian territories “with the most critical regime-balance parameters and territories with subsidized electricity prices during periods of projected deficit.”
The issue was brought before the intergovernmental commission on November 18.
On November 18, the government commission on electricity development approved the list of regions for cryptocurrency mining restrictions and their duration.
From December 1, 2024, the ban will be enforced throughout the Irkutsk region and certain districts of Buryatia and the Trans-Baikal Territory until 2031 during the autumn-winter heating period.
Restrictive measures until 2031 have been proposed for the territories of Dagestan, North Ossetia-Alania, Ingushetia, Chechnya, Kabardino-Balkaria, and Karachay-Cherkessia.
The Ministry of Energy, together with energy companies, has been tasked with developing mechanisms to monitor the implementation of the ban and the release of electrical capacity used by miners.
According to BitRiver estimates, Russian miners collectively consume about 2.7 GW of electricity.
On November 1, a regulation establishing a registry of miners came into effect in Russia. Basic regulation of cryptocurrency mining in the country was adopted in July. ForkLog examined its impact on the industry in a separate article.
Additional amendments outline the government’s authority to restrict mining in specific areas. Previously, Russia’s Ministry of Energy identified regions for future cryptocurrency mining bans.
Russia has also set an energy consumption limit for individual miners.