The Russian government has approved a list of regions and territories where cryptocurrency mining activities will be banned from next year.
Cryptocurrency mining will be completely banned in 10 regions of Russia for six years, starting from January 1, 2025, according to a report by TASS news agency on December 24. The ban will be in effect until March 15, 2031.
Russian lawmakers have also passed seasonal restrictions in key cryptocurrency mining regions to prevent power outages.
These restrictive measures are in line with Russia's cryptocurrency mining law signed by the president in August and October 2024.
Comprehensive ban vs. seasonal restrictions
Cryptocurrency mining will be banned in 10 regions and territories of Russia such as Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People's Republics, as well as the Zaporizhzhia and Kherson regions.
The report notes that the ban will affect both industrial and individual cryptocurrency mining activities.
In addition to the complete bans, Russia will also restrict mining activities in three Siberian regions during the winter when electricity consumption is high.
The seasonal restrictions will affect certain areas of Irkutsk, Buryatia, and Zabaikalsky.
In 2025, these restrictions will initially be applied from January 1 to March 15 and expanded from November 15 to March 15 in the following years.
Russia chooses to maintain mining in key mining regions
Russia's latest mining restrictions are a more flexible version of the initial restrictive measures proposed by the government in November.
Initially, lawmakers planned to ban cryptocurrency mining in 13 regions, including Russia's key mining region of Irkutsk.
Major Russian mining companies like BitRiver rely heavily on cheap electricity in regions like Irkutsk. According to local sources, the Irkutsk region is home to BitRiver's first and largest data center, launched in 2019 in Bratsk.
TinTucBitcoin has reached out to BitRiver for comment on the potential impact of the new restrictions on their operations, but has not received a response at the time of publication.
