Ahead of a major crackdown on illegal cryptocurrency mines in Russia next year, a power provider in Siberia has been fined for illegally leasing state land that's supposed to be used only for public utilities to an illegal mining operation.

In a social media post translated by Ars, the Irkutsk Region Prosecutor-General’s Office explained that the power provider was fined more than 330,000 rubles (about $3,000) for the improper land use. Local prosecutors will also pursue an administrative case against the power provider, the office said.

Crypto mining is popular in Siberia because of low operating costs, Crypto News noted , due to the cool temperatures and cheap power supply. But many in Siberia have blamed crypto miners for power outages and grid instability that can cause significant harms during winter months.

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Ahead of a major crackdown on illegal cryptocurrency mines in Russia next year, a power provider in Siberia has been fined for illegally leasing state land that's supposed to be used only for public utilities to an illegal mining operation.

In a social media post translated by Ars, the Irkutsk Region Prosecutor-General’s Office explained that the power provider was fined more than 330,000 rubles (about $3,000) for the improper land use. Local prosecutors will also pursue an administrative case against the power provider, the office said.

Crypto mining is popular in Siberia because of low operating costs, Crypto News noted , due to the cool temperatures and cheap power supply. But many in Siberia have blamed crypto miners for power outages and grid instability that can cause significant harms during winter months.

Read full article

Comments

Ahead of a major crackdown on illegal cryptocurrency mines in Russia next year, a power provider in Siberia has been fined for illegally leasing state land that's supposed to be used only for public utilities to an illegal mining operation.

In a social media post translated by Ars, the Irkutsk Region Prosecutor-General’s Office explained that the power provider was fined more than 330,000 rubles (about $3,000) for the improper land use. Local prosecutors will also pursue an administrative case against the power provider, the office said.

Crypto mining is popular in Siberia because of low operating costs, Crypto News noted , due to the cool temperatures and cheap power supply. But many in Siberia have blamed crypto miners for power outages and grid instability that can cause significant harms during winter months.

Read full article

Comments