Russia's Rosseti Plans to Launch Cryptocurrency Mining Operations

According to PANews, Russia's largest energy supplier, Rosseti, is planning to initiate cryptocurrency mining operations. The company aims to collaborate with specific power supply centers to work with Bitcoin mining firms. Rosseti intends to act as the operator coordinating the deployment of cryptocurrency mining infrastructure, focusing on power supply centers with lower utilization rates. Rosseti's CEO, Andrey Ryumin, has reached out to Russian Prime Minister Mikhail Mishustin, seeking approval to coordinate the deployment of mining centers across various regions. The company believes that cryptocurrency mining can enhance the utilization of idle capacity, increase grid load, and boost tariff revenue, thereby contributing to Russia's economic development and tax revenue growth. To encourage low-load power centers to participate in mining, Rosseti is exploring various tools, including implementing special electricity pricing policies. Additionally, the company plans to leverage its grid load management capabilities to ensure the reliability of power supply.