Russian power grid titan eyes Bitcoin mining ventures

Rosseti, Russia’s largest energy grid operator, is exploring crypto mining operations at its underutilized energy facilities and goals to change into a coordinator for mining infrastructure deployment throughout the nation, based on state information company TASS.

“The Rosseti Group is the most important grid firm in Russia and may act as an operator for coordinating the position of mining infrastructure,” the corporate informed TASS.

The state-owned vitality supplier sees crypto mining as a possibility to make the most of spare capability at low-load energy 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 required switching gear to handle mining facility hundreds. The corporate additionally maintains operational knowledge on obtainable capability and consumption patterns to make sure dependable regional energy provide.

Rosseti is presently discussing varied features of its mining improvement technique, together with the potential introduction of a separate tariff construction for miners as a requirement administration device.

Final August, President Vladimir Putin signed a legislation regulating crypto mining as a part of the nation’s digital asset administration technique. Below the legislation, solely registered entities and particular person entrepreneurs are allowed to interact in large-scale crypto mining operations in Russia.

As a result of energy shortages, the Russian authorities has banned crypto mining in a number of areas beginning January 1, 2025, extending by means of March 15, 2031.