- Rosseti Group is exploring the opportunities of crypto mining
- They assume using their underutilized power centers
- They expect to increase revenue and tax payments
Rosseti Group, which includes interregional and regional distribution grid companies (IDGCs/RDGCs), research, development, and construction institutes – is exploring the opportunity of mining cryptocurrency on its underutilized power centers and coordinating the deployment of mining infrastructure.
More About Rosseti Group’s Initiative in Cryptocurrency Mining
According to Russian news agency TASS, Rosseti Group is exploring opportunities for more efficient use of its power centers. They aim to become the main supplier and coordinator in the energy sector regarding cryptocurrency mining while increasing revenue and tax payments.
“The Rosseti Group is the largest grid company in Russia and can act as an operator for coordinating the placement of mining infrastructure.”
Among other things, they chose to explore the possibility of mining cryptocurrencies, likely amidst intense pro-crypto regulation in the U.S., especially the fundamental decisions on the Bitcoin Reserve and others last week.
While the Russian government has banned cryptocurrency mining in several regions as of January 1, 2025, and will continue until March 15, 2031 – this does not override the more general pro-crypto law that enables registered organizations and individual entrepreneurs to engage in large-scale cryptocurrency mining operations in Russia.
It is likely that in accordance with this, Rosseti Group is exploring options for cryptocurrency mining, in particular, to use spare capacity in low-load power centers in order not to jeopardize the stable basic energy supply in the country.
Also, to avoid this, the company is already studying different energy consumption models but claims that they are technically ready and its infrastructure is equipped with the necessary switching equipment to manage mining facility loads.
Conclusion
It’s hard to overstate how big this could be. If the country’s main power company directly explores and is ready to implement mining of Bitcoin and other cryptocurrencies, taking care of the stability of this in advance without issues regarding the general energy consumption – this could be a huge resource for Russian crypto mining companies.
Such an environment, if of course, the legal framework is favorable, as well as the price of fuel will not show dramatic jumps – could bring Russian crypto-mining companies to a new level.
However, it’s too early to make a statement, as it’s still just a matter of possibilities, and in general, there are a lot of factors that can interfere. Be aware and stay tuned.
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