Site icon Coincu – Latest Cryptocurrency News and Analysis

Rosseti Bitcoin Mining Proposed to Expand to Increase Utilization of Power Grid

FacebookXRedditTelegramGoogle News
Rosseti Bitcoin Mining Proposed to Expand to Increase Utilization of Power Grid

Key Points:

Russia’s largest energy supplier, Rosseti, plans to venture into cryptocurrency mining, aiming to utilize its low-load power supply centers for Bitcoin operations.

Read more: Russian Bitcoin Payments Now Motivated to Fight Western Sanctions 

Rosseti Crypto Mining Operations Proposed to Expand in Russia

The company seeks to collaborate with mining firms while acting as the central operator for infrastructure deployment. Rosseti’s strategy focuses on increasing grid efficiency, boosting revenue, and supporting the national economy through enhanced energy utilization. The company is also seeking approval to coordinate the deployment of Rosseti Bitcoin mining centres across various regions.

In a proposal to Russian Prime Minister Mikhail Mishustin, Rosseti CEO Andrey Ryumin emphasized the potential benefits of cryptocurrency mining, such as higher grid load, improved tariff revenue, and increased tax contributions.

Mining Initiative Moves Forward Amid Regional Cryptocurrency Ban

The Rosseti Bitcoin mining initiative comes as Russia grapples with energy challenges. A cryptocurrency mining ban was imposed last year in ten regions to address surging energy demand. The restriction, effective until March 2031, also applies to six territories in Ukraine under Russian occupation.

Rate this post
Exit mobile version