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Rosseti, the largest electricity provider in Russia, is set to initiate cryptocurrency mining activities, allowing selected energy supply facilities to collaborate with Bitcoin mining enterprises.
According to the Russian state-owned news agency TASS, Rosseti aims to position itself as an “operator for hosting mining infrastructure.”
Rosseti: Growing Interest in Crypto?
This move represents a notable shift for Rosseti, which has dedicated much of the past few years to targeting illegal and “gray” miners in various regions of the country.
Rosseti engineers. (Source: Rosseti/VK/Screenshot)
The utility company has expressed its intention to concentrate on “energy supply facilities with low utilization potential.” TASS reported the company as stating:
“The Rosseti Group is the largest grid company in Russia. We will serve as the operator that coordinates the placement of crypto mining infrastructure.”
This development appears to confirm a prior report from the media outlet Kommersant, which claimed last week to have obtained a letter sent to Russian Prime Minister and de facto energy leader Mikhail Mishustin from Rosseti Group head Andrei Ryumin.
Russian Prime Minister Mikhail Mishustin. (Source: kremlin.ru)
Will the Prime Minister Decide on Rosseti’s Request?
Ryumin is reportedly seeking Mishustin’s approval to grant Rosseti official authorization “to coordinate the placement of mining facilities in Russian regions.”
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Rosseti officials noted that the company is “also interested in developing [crypto] mining, as this can promote the utilization of [spare or idle] capacity.”
Additionally, it can “enhance the load of energy supply facilities and increase the company’s tariff revenue,” Rosseti stated.
The firm indicated that all these efforts would contribute to “boosting the development of the Russian economy” and “enhancing tax revenues.”
Ukraine launched several drone strikes on three regions of Russia, including the Ryazan area, home to one of the country’s largest oil refineries, according to officials in Moscow https://t.co/W3kyqQH5UE
— Bloomberg (@business) January 26, 2025
Encouraged Crypto Mining
The energy supplier mentioned it is exploring the use of “various tools” to encourage “energy facilities with low potential loads” to transition to crypto mining. These could involve “different types of tariffs,” Rosseti stated.
The company clarified that its affiliates “have the capability to manage electricity consumption.”
They can therefore reportedly utilize “operational data on the availability of free capacity and loads” to “ensure the reliability of electricity supply” to Russia’s regions.
“Our entire electrical grid infrastructure is equipped with switching devices and other tools that can assist in managing the load from [crypto] mining facilities.”
Rosseti spokesperson
Last year, the state-run oil and gas company Gazprom introduced a crypto mining subsidy. The same company is reportedly constructing a 5,000-rig Bitcoin (BTC) mining center in the historic city of Velikiy Novgorod.
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