Cryptocurrency mining in Russia took less than 1% of total energy consumption in 2022

According to statements by Deputy Energy Minister Pavel Snikkars, in 2022, miners consumed from 0.6% to 0.8% of the total amount of electricity. 

At the moment, there is no document regulating the work of entities that mine cryptocurrency. Accordingly, the distribution of miners across Russia is according to where it is most profitable to do business. The Irkutsk and Buryat regions, as well as the Trans-Baikal Territory, are a priority. There is a sufficient amount of resources and affordable electricity tariffs. 

Snikkars noted that miners connect their equipment to spare capacity, which may jeopardize not only the provision of electricity to settlements but also the implementation of important areas of industrial development and housing construction programs. 

In the Irkutsk region, consumption increased by 8.6%, which is much higher than the average dynamics in Russia. We have to adjust scheduled repairs to ensure that the power system works steadily. 

It should be noted that the actual energy consumption by miners turned out to be much lower than predicted. Thus, the Deputy Minister of Energy said that the expected share of consumption by miners was supposed to be 1.5-2%.