Russia Considers Prolonged Ban on Cryptocurrency Mining in Irkutsk Region

According to PANews, Russia's largest Bitcoin mining hub, the Irkutsk region, may face a year-round ban on all cryptocurrency mining activities starting April 1. This prohibition would apply specifically to the southern part of the Siberian Irkutsk region and could extend until mid-2031. The Russian newspaper Kommersant, known for its close ties to the Kremlin, reported that government sources indicated a potential comprehensive ban on mining activities in southern Irkutsk as early as April 1. As Russia's first Bitcoin mining center, this area hosts several large mining facilities that collectively consume approximately 650 megawatts of electricity. Industry insiders expressed concerns to the newspaper, stating that a complete ban would pose significant challenges to these centers. They noted that if the ban is enforced, they would struggle to take action due to difficulties in connecting to networks in other regions. Additionally, many neighboring areas have already implemented winter cryptocurrency mining bans, potentially leaving miners with no option but to relocate.