Moscow Region Proposes Cryptocurrency Mining Ban Due to Energy Concerns
The Moscow regional government has proposed a ban on cryptocurrency mining activities to alleviate pressure on the local power grid. This initiative follows significant electricity consumption attributed to data centers, particularly in Moscow, which is estimated at 1 gigawatt.
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The Moscow region is considering a ban on cryptocurrency mining, primarily due to the substantial energy demands it places on the local power grid. Sergey Voropanov, the regional Minister of Energy, highlighted that mining activities consume about 1 gigawatt of electricity, with half of this demand concentrated in Moscow.
The proposed policy aims to address economic concerns, as the energy consumption does not yield significant local economic benefits. Additional measures may include a master plan for data center placement and restrictions on direct connections to power sources, focusing on centers exceeding 10 megawatts.
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