Russia extends crypto mining ban for six years due to rising energy consumption

From January 1, 2025, until March 15, 2031, the Russian government prohibits crypto mining in regions like Dagestan and Ingushetia. This measure targets areas with significant energy consumption, reflecting urgent energy concerns.

Currently, crypto mining constitutes 1.5% of Russia’s total energy consumption, estimated at 16 billion kilowatt-hours annually. The ban seeks to mitigate energy imbalances and economic disparities across affected regions.