Energy consumption by miners in Russia may double

  • 21:49 Dec 05, 2022
  • 402
Energy consumption by miners in Russia may double

The Ministry of Energy of Russia believes that the amount of electricity required for mining may increase by 1.5-2 times. According to the Ministry's representative, there is free capacity for the cryptocurrency mining industry in several regions.

During the conference "Cryptocurrencies, mining and digital assets," held by RBC, Paul Snikkars, deputy head of the Ministry of Energy, noted that the excess capacity arises because of the long cycle of investment construction. We are talking about the period from 3 to 10 years. As a result, after the construction is completed, the consumers do not start working, and the facility remains unloaded.

In addition, Snickars emphasized the problem of mining cryptocurrency by individuals: the availability of energy resources leads to the growth of home mining, which can not be provided by the technical capabilities of specific power centers. It forces power engineers to carry out proactive measures to serve all consumers.

Pavel Snikkars also voiced the position of the Ministry of Energy regarding the adoption of a law on mining in Russia:

The Ministry unequivocally supports the idea of giving mining a legislative definition. Moreover, the Ministry has repeatedly put forward initiatives to identify and regulate this type of activity.

Share to:
Related news