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                        Russia’s “Gray Mining” Causes Power Outages in Regions
                    Ultramining 09 Oct 2024

Russia’s “Gray Mining” Causes Power Outages in Regions ⚡

Russia is grappling with the issue of illegal cryptocurrency mining, known as "gray mining." This activity is causing significant power outages in regions such as Irkutsk and Buryatia. These power outages result from a 160% increase in electricity consumption linked to this unauthorized mining activity.

"Gray miners" exploit low residential electricity tariffs, leading to severe grid overloads and frequent emergency shutdowns. The damage caused by this illegal mining activity is estimated to reach $200 million annually. To address this challenge, authorities are implementing stricter control measures.

Proposed actions by Russian authorities include imposing fines up to $15,000 for illegal mining activities. Additionally, there are discussions to block access to mining equipment and confiscate devices used in these unlawful operations. These measures aim to mitigate the energy crisis and stabilize the local energy system.

Source: ultramining.com ↗

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