Russia Bans Crypto Mining in 10 Regions for 6 Years!

Crypto mining is as profitable as it is very expensive. Many mining mines have even been shut down due to the rising cost of Bitcoin mining. Moreover, Bitcoin mining requires a lot of electricity. Moreover, all the equipment required for this or the materials or raw materials required are very expensive and scarce. However, at the present time, the Russian government has selected some areas and regions where bitcoin mining was done and approved a list of those areas. This list lists the Bitcoin mining mines in around ten regions and Bitcoin mining in these regions will be banned from cryptocurrency mining for 6 years from next year.

source

Currently Russia is going to ban crypto mining for ten regions and for about six years. This ban will come into effect from the first of next month and will continue till March 2003. That is, cryptocurrency mining has been banned for 6 years and ten regions have been listed. Russian lawmakers have also approved such declarations to prevent power blackouts. As we know Bitcoin mining is quite expensive and requires a lot of electricity. The country's lawmakers have therefore approved seasonal restrictions in key cryptocurrency mining regions. Even these restrictions align with Russia's cryptocurrency mining laws. And this ban was signed by the President in August October this year by the government of the country.

Crypto mining will be banned in Russian regions and territories. Such announcements have come to prevent power blackouts and mining mines in these areas have been brought under the ban. A report by one of the country's own news agencies noted that the ban would affect both mining pool activity and individual cryptocurrency mining. This has been called a blanket ban. Moreover, crypto mining is more expensive. In particular, we know that it requires a large amount of electricity, and with this amount of electricity, the electricity needs of several countries can be met. Moreover, such bans in the country will partially limit mining activities in three Siberian regions during winter due to peak energy consumption.

The mining mines located in the Bee River are one of the main mining industries in the country and are largely dependent on cheap electricity. Not only Russia, many countries are taking such decisions to prevent the wastage of electricity. Moreover, there have been complaints in many places that the raw materials used in them are harmful to the environment, so many locals have resorted to court to stop such mining industries. Russia's current decision to shut down mining industries in ten regions will come into effect on January 1 next year. The country's latest mining restrictions are a modified version of the initial restrictions formally proposed by the government in November. Lawmakers planned to ban crypto mining in 13 regions, including Irkutsk, the country's main mining region, to prevent power blackouts.