Russia Could Relocate Bitcoin Miners To Northern Regions: Report
The Russian Ministry of Energy is considering incentives for Bitcoin mining to relocate to northern regions after banning mining in ten southern regions until March 15, 2031. The ban aims to alleviate energy shortages exacerbated by the Ukraine war, with the government exploring further restrictions. Deputy Minister Yevgeny Grabchak proposed utilizing unused power grid centers in northern Russia for mining, emphasizing potential long-term benefits for the economy and energy system. Regions targeted for expansion include the entire north, parts of the northwest, and some Volga areas. The ban has reportedly saved over 300 MW of energy, but analysts warn it may hinder economic development. Some claim the ban is misrepresented, as large corporate miners may still operate in affected areas, with enforcement primarily targeting smaller, unregulated miners.
