Russia’s largest power grid operator, Rosseti is diving headfirst into the world of Bitcoin mining.
The company is looking to utilize its underused power centers and wants to become the go-to coordinator for mining infrastructure across the country.
Bitcoin mining development
Rosseti sees this as a golden opportunity to make use of spare energy capacity at low-load power stations.
This move could not only boost their revenue from electricity tariffs but also contribute to local economic growth, and the company has confirmed it’s indeed technically ready for the mining game.
Their infrastructure is equipped with the necessary gear to manage the energy demands of mining operations.
Plus, they have all the data on power consumption patterns to ensure that regional electricity supplies remain stable.
Challenges in operation, and legislation
Rosseti is currently brainstorming its mining strategy, including the possibility of introducing special tariffs for miners. This could help manage demand and optimize energy use.
Last August, President Vladimir Putin signed a law that regulates crypto mining in Russia as part of their digital asset management strategy, and under this law, only registered companies and individual entrepreneurs can participate in large-scale mining operations.
On the other hand, due to power shortages, the government has imposed a ban on crypto mining in several regions starting January 1, 2025, which will last until March 15, 2031.
A new digital gold rush?
Russia is trying to balance its energy needs with the growing demand for cryptocurrency mining, so Rosetti’s ambition is fit into the picture.
The company believes that by converting underutilized power centers into profitable assets through Bitcoin mining, it can help stimulate local economies and increase tax revenues, and it’s also clear that they’re looking to play a significant role in shaping Russia’s crypto industry.
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