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The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia Granted Permission to Increase Costs for Home Mining Russians mining cryptocurrencies … Read more
A Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using Subsidized Electricity to Mint Digital Coins Irkutskenergosbyt, a power … Read more
Russian authorities have investigated a number of cases involving the theft of crypto mining equipment in the past months. A resident of Yaroslavl has just been found guilty of stealing mining hardware worth over $20,000 and sentenced to three years in prison. Russian Convicted of Stealing Mining Rigs Receives Prison Sentence A 34-year-old man from … Read more
A residential block of red bricks stretches unambitiously under the freezing sky of Irkutsk, in the Russian province of Siberia. Inside, a series of small bitcoin mining machines are running on cheap electricity, as grandmother Valeriya’s family of domestic miners, a bullish bunch, stack up a potential fortune for the future. Also read: Skeptical Payoneer CEO … Read more
The outcome of a court case in Russia may affect the popular practice of cryptocurrency mining in basements and garages. According to a recent ruling, a church in Irkutsk must pay higher electricity rates for installing and running mining hardware on its premises. ‘Grace’, the religious organization of the local evangelical community, has been taking … Read more
The largest glass manufacturing plant in Siberia may soon start minting bitcoins. The management of the factory in Novosibirsk announced plans to invest in a mining farm. 11 million rubles will be spent in the first phase of the project to utilize surplus electricity and make use of empty spaces. Also read: Bitmain Opens Repair … Read more
