tariffs

Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

July 13, 2022 Bitcoin.com

$POWER

President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Uzbekistan Presents Registration Requirements for Cryptocurrency Miners

June 29, 2022 Bitcoin.com

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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in cryptocurrency mining will need […]

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Russia’s Anti-Monopoly Agency Proposes Higher Electricity Rates for Home Crypto Miners

May 7, 2022 Bitcoin.com

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The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament. Russian Miners Using Household Electricity Should Pay Higher Bills, Anti-Monopoly Body Says Russia’s Federal […]

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Russia’s Economy Ministry Calls for Introducing ‘Acceptable’ Electricity Rates for Miners

February 17, 2022 Bitcoin.com

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The Ministry of Economic Development of Russia has suggested that crypto mining should be allowed in energy-rich regions and miners provided with access to inexpensive electricity. The department has joined calls to legalize the industry and utilize Russia’s strengths as a mining destination. Crypto Miners Should Have Access to Cheaper Power, Economy Ministry Says Amid […]

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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 […]

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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 […]

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

January 2, 2022 Bitcoin.com

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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 […]

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Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity

December 30, 2021 Bitcoin.com

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Authorities in Iran have decided to permit power generation plants using renewable sources to sell electricity to licensed cryptocurrency miners. The move comes after the government asked mining companies to suspend activities in order to avoid winter blackouts. Crypto Miners in Iran to Mint Digital Coins Using Renewable Energy Regulated companies mining cryptocurrency in Iran […]

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Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners

December 25, 2021 Bitcoin.com

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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 […]

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Illegal Crypto Miners Threatened With Jail Time in Russia

December 17, 2021 Bitcoin.com

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Cryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state, another high-ranking parliamentarian has added. Unauthorized Use of Power […]

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