Rosseti, Russia’s state-owned electricity giant, is reportedly evaluating Bitcoin mining to enhance energy utilization in areas with surplus capacity, local news agency TASS reported.
The report states that the operator of the grid plans to build mining infrastructures in areas with low demand for energy. This move, according to the company, would increase energy efficiency as well as generate tax revenues. It is also expected to boost local economic growth through the use of idle energy resources.
Rosseti has stated that it’s advanced grid systems are able to efficiently manage mine operations. This allows for monitoring in real-time and optimizing energy consumption. In order to further its growth strategy, the company will also introduce a special tariff for miner.
It could be used to streamline energy operations and manage the demand for energy in regions with high levels of supply.
Observers noted that this move highlights Bitcoin mining’s evolving role in the energy sector. Mining is often criticised for its high consumption of energy, but it has the potential to stabilise grids, use surplus power and integrate with renewable resources. Bitcoin mining is a key player in the modern energy conversation because of its flexibility.
Russia’s crypto embrace
Meanwhile, the initiative aligns with the Russian government’s broader efforts to integrate crypto into the economy.
Russia’s recently introduced regulatory framework for crypto mining classifies digital assets as taxable property. Although crypto transactions are free of value-added taxes, the income generated from trading and mining is taxed 15%.
This has encouraged businesses and individuals to use Bitcoin mining for an extra revenue stream. The demand for industrial mining gear in Russia tripled from the year before 2024.
In spite of the newfound interest in Bitcoin, Russia has placed restrictions on mining Bitcoin in 10 energy-limited regions.
The seasonal bans are in effect until 2031 and aim to avoid grid overloading during periods of high demand. In the affected area, mining activities are prohibited between mid-November and mid-March each year.
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Oluwapelumi Adejumo
Oluwapelumi believes in the potential of Bitcoin. He gives insights into a variety of topics, including DeFi hacks, culture and mining, while highlighting its transformative potential.
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Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright hosts the SlateCast and is Editor-in chief at CryptoSlate. He thinks that technology decentralized has the ability to create positive and widespread change.
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