Bitcoin mining may be completely banned in the Republic of Buryatia and the Trans-Baikal Territory.
For now, restrictions in these regions are seasonal and apply only during the cold autumn and winter months, when energy consumption peaks, noted Olga Arutyunova, Deputy Director of the Department of Electric Power Development.
Buryatia and Transbaikalia border the Irkutsk region, most of which has completely banned mining until the spring of 2031.
We are monitoring the situation. If necessary, we will respond promptly and ban cryptocurrency mining, as we did in the Irkutsk region, for the entire year,» Arutyunova said.
Russian authorities legalized mining in 2024 to capitalize on competitive advantages over other countries, such as abundant energy resources and a cool climate. Legal entities and individual entrepreneurs are free to engage in this activity, provided they are registered with the Federal Tax Service (FTS) and pay the required taxes.
However, after mining was permitted, power outages occurred in several regions of the country, leading authorities to impose partial or complete restrictions on cryptocurrency mining.