Crypto Miners Blamed for Mass Electricity Outages in Russia’s Siberia

Power providers in Siberia, Russia, have accused cryptocurrency miners of causing “mass” electricity outages during recent cold snaps. Rosseti Siberia, the local branch of the state-run power provider Rosseti, claimed an increase in illegal mining activity at the end of 2023 in various Siberian regions. This surge was linked to over $675,000 worth of damage and an increase in network failures during recent mass outages. Rosseti Siberia also reported the closure of 17 illegal crypto mining farms in the territory over the past 12 months. The energy provider expressed concern about the strain on their networks caused by crypto mining. While mining has no legal status in Russia, the industry has been pushing for regulation.

The accusation of crypto miners causing electricity outages in Siberia highlights the ongoing challenges associated with the environmental and infrastructure impact of cryptocurrency mining. As cryptocurrency mining activities continue to expand globally, concerns about their effects on power grids and networks are gaining attention. The clash between the crypto industry and energy providers underscores the need for clear regulatory frameworks to address the environmental impact and ensure the stability of power infrastructures in regions where crypto mining is prevalent. (Source: Cryptonews)