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Russian Crypto Mining Industry Could Be Set for $4Bn Boost

The Russian crypto mining industry could be set for a $4 billion boost, representatives claimed at a media event in Irkutsk, Siberia. Per the media outlet SIA, however, the sector cannot expand if Moscow approves plans to impose prohibitive new tariffs on crypto miners. The project is the brainchild of the Ministry of Digital Development. And Bezdelov said Russian industrial miners were “ready to provide it with space” in new and existing data centers. The Ministry of Energy thinks increasing tariffs for crypto miners will help reduce the load on grids. Energy providers claim that by 2029, mining could lead to deficits of up to a combined 3.5 GW in Eastern Siberia, the Far East, and Southern Russia.

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