Russia Extends Regional Crypto Mining Ban Until March 2031 Amid Escalating Energy Issues

Russia has announced a significant extension of its regional crypto mining ban, with the restrictions now set to remain in place until March 2031. The decision was made in response to escalating energy issues within the country.

As previously reported by CryptoPotato, Russia initially imposed a winter ban on local crypto mining operations in late November. This initial ban was intended to last for only three months, from January 2025 to March 2025. However, the government has now extended this restriction for an additional five years, until March 2031.

The regions that will be affected by the extension include Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk People’s Republic, Luhansk People’s Republic, Zaporizhzhia, and Kherson. The government has stated that this decision was made in an effort to maintain the country’s energy consumption balance.

Russia has been grappling with significant energy issues of late. In 2024, the nation used a staggering 16 billion kilowatt-hours of electricity annually for crypto mining operations alone. This level of consumption is unsustainable and poses a significant threat to the country’s overall energy stability.

In light of these concerns, the government has decided to impose stricter regulations on the crypto mining industry. The restriction on crypto mining will also apply to some regions in Irkutsk, Buryatia, and Zabaykal Krai.

The decision comes as a blow to many regional crypto miners who were hoping for a relaxation of the restrictions.

Source: cryptopotato.com