untitled design

Russia will fight against shadow miners

Tighter control over electricity consumption among private miners will be a response to the increase in unauthorized mining of cryptocurrencies and overloading of energy systems.

The Expert Council under the Russian government has developed new methods for monitoring electricity consumption. They mainly concern digital asset miners. The publication writes about this “News

Fines for miners

The expert council's proposal includes remote monitoring of actual electricity consumption in apartments and houses. The system will compare the declared consumption with the actual one and identify those who use energy above the norm.

The proposal will be considered by the Cabinet of Ministers on May 16.

For electricity consumption above the established norm, new measures provide for fines for shadow miners. The amount of penalties will be calculated at higher tariffs that apply to industrial enterprises.

“Today, electricity suppliers can prove such violations in court, wasting time and money on the companies. However, if a unified principle of fines is developed at the federal level, this will significantly facilitate and intensify the fight against violators,” said Dmitry Tortev, a member of the Expert Council for the Development of Competition in the Field of Information Technologies at the Federal Antimonopoly Service of Russia.

According to him, potential fines for crypto miners could reach millions of rubles.

Why is it important

Tighter mining controls are aimed at stabilizing the power grid and reducing frequent power outages. This is especially true for regions such as the Irkutsk region, Buryatia and Trans-Baikal Territory.

Last December, abnormally low temperatures were observed in the northern regions of Russia. Because of this, accidents often occurred at power plants. Rosseti stated that illegal miners were to blame for these accidents.

Previously, officials had already proposed raising tariffs for cryptocurrency miners five or even ten times higher than current ones. In their opinion, such a measure will contribute to the relocation of miners to other parts of the country.

Proposals to introduce fines and raise tariffs for digital asset miners are expected to ensure fairer and more efficient use of energy resources. They are also intended to reduce the financial burden on law-abiding citizens and businesses that currently bear the costs through the cross-subsidization mechanism.

Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular