Mining Without Registration: Russian Citizens Get Green Light, With Limits

Effective November 1, 2024, Russians can mine crypto without formal registration, provided they stay within specific power consumption caps. Recent amendments to the Digital Financial Assets Law limit households to 5.5 kWh per user across most regions. Experts estimate over 420,000 individuals could benefit from this rule.

Industry groups report a 38% rise in at-home mining last year, totaling around 165 PH/s in cumulative hashpower. Projections suggest a 44% growth rate in 2025. However, exceeding the limits triggers requirements for official entrepreneur status or registration via a dedicated registry. Fines can go up to 250k rubles if guidelines are disregarded.

Authorities emphasize that this approach simplifies public access to the evolving crypto market. Power suppliers remain concerned about localized overloads, as an influx of new miners might strain grids. They propose flexible billing structures, raising rates for consumption beyond baseline levels by up to 2.3 times.