Russia considers new energy tariffs as Chinese crypto miners relocate

The Russian Ministry of Energy is looking to introduce special electricity tariffs for cryptocurrency miners following migration of the industry into the country from nearby China.

Russian Energy Minister Nikolai Shulginov announced Wednesday that the authority is working on a new framework to differentiate tariffs between general usage and cryptocurrency mining, local news agency RBC reported Oct. 13.

Shulginov said that cryptocurrency miners in Russia should not consume electricity at residential tariffs, stating:

“We can’t let miners capitalize on the situation at the expense of low residential electricity tariffs […] In order to maintain the reliability and quality of power supply, we believe it is necessary to prohibit miners from consuming electricity at residential tariffs.”

Some Russian regions have reportedly faced explosive growth in energy consumption, allegedly due to Chinese miners exiting the country amid a nationwide crackdown on crypto.

Russia’s Irkutsk region, located about 1,700 kilometres from China, has reportedly seen its energy consumption rates exceed last year’s by almost 160%. Irkutsk Governor Igor Kobzev pointed to “avalanche-like growth” of energy

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