Irkutsk

Several Crypto Mining Operations Busted in Russia

March 19, 2023 Bitcoin.com

$POWER

Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region

February 14, 2023 Bitcoin.com

$POWER

Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Russia Cracking Down on Crypto Miners Minting in Residential Areas

December 14, 2022 Bitcoin.com

Ban

Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto Miners in Russia Under Pressure Despite Lack of Regulation for Home Mining Electricity distribution […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year

August 25, 2022 Bitcoin.com

bitcoin.com

Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

June 25, 2022 Bitcoin.com

bitcoin.com

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency

February 7, 2022 Bitcoin.com

$POWER

Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also increased significantly. Irkutsk Dealing With Rising Electricity Needs Amid Growing […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Russian Association of Power Suppliers Proposes Measures to Prevent Home Mining

February 5, 2022 Bitcoin.com

$POWER

The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it. Suppliers Move Against Mining With Cheap Electricity The Russian association of energy suppliers […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

January 27, 2022 Bitcoin.com

$POWER

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Power Outages in Russia’s Irkutsk Region Blamed on Home Miners

January 2, 2022 Bitcoin.com

$POWER

Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals. Electricity Consumption Spikes Amid Spread […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back

Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners

December 25, 2021 Bitcoin.com

bitcoin.com

The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia Granted Permission to Increase Costs for Home Mining Russians mining cryptocurrencies […]

Read more

Quantum computing will fortify Bitcoin signatures: Adam Back