The capital city of Moscow, along with parts of surrounding regions including the Moscow Region and Kursk, has seen crypto mining banned by Russia’s government under a decree signed on July 25. The restrictions are set to expire by the end of 2032.
Russia’s Energy Ministry said the measure was imposed due to concerns over energy consumption, with crypto mining currently consuming approximately one gigawatt in the Moscow power system alone. By 2032, the region’s data-center capacity is expected to reach 3.6 gigawatts, which could account for about 17% of peak demand.
About 175 exahashes per second contribute to Bitcoin’s global computing power, highlighting the significant role crypto mining plays globally. Russia accounted for approximately 16.4% of Bitcoin’s global mining power in the first quarter, underscoring its importance within the cryptocurrency ecosystem.
The extent and effectiveness of compliance with the ban remain uncertain, while the full impact on energy capacity and potential economic implications are under investigation.
Written by Roger Slater
Technology Desk
