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.
According to the report, the power grid operator plans to establish mining infrastructure in regions with low energy demand. The company believes this move would improve energy efficiency and generate tax revenue, fostering local economic growth by utilizing idle energy resources.
Rosseti stated that its advanced grid systems can efficiently manage mining operations, allowing for real-time energy consumption monitoring and optimization. The company is also considering introducing a unique tariff structure for miners as part of its development strategy.
This approach could help manage demand and streamline operations in energy-abundant areas.
Observers noted that this move highlights Bitcoin mining’s evolving role in the energy sector. Often criticized for its high energy consumption, mining is proving its potential to stabilize grids, utilize surplus power, and integrate with renewable sources. This flexibility positions Bitcoin mining as a vital player in modern energy conversations.
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. While crypto transactions are exempt from value-added tax, mining and trading income is subject to a 15% tax rate.
These measures have encouraged individuals and businesses to embrace Bitcoin mining as an additional revenue stream. In 2024 alone, demand for industrial mining equipment in Russia surged threefold compared to the previous year.
Despite the surge in interest, Russia has imposed restrictions on Bitcoin mining in ten energy-constrained regions.
These seasonal bans, effective until 2031, aim to prevent grid overload during high-demand periods. Mining activities will be prohibited from mid-November to mid-March and from January to mid-March annually in the affected areas.
The post Russia’s Rosseti eyes Bitcoin mining to harness surplus energy and boost local growth appeared first on CryptoSlate.