{"id":82257,"date":"2023-07-27T12:45:08","date_gmt":"2023-07-27T09:45:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82257"},"modified":"2025-09-12T03:55:38","modified_gmt":"2025-09-12T00:55:38","slug":"russias-cryptocurrency-mining-energy-consumption-fell-in-2022","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russias-cryptocurrency-mining-energy-consumption-fell-in-2022\/","title":{"rendered":"Russia&#8217;s cryptocurrency mining energy consumption fell in 2022"},"content":{"rendered":"<p>According to a report by the Analytical Centre for the Fuel and Energy Complex (ACTEK), as cited by <a href=\"https:\/\/tass.ru\/ekonomika\/18373339\">\u0422\u0410\u0421\u0421<\/a>, energy consumption by cryptocurrency miners in Russia fell 49% in 2022 to under 5 billion kWh.<\/p>\n<p>According to experts, the global annual figure is around 100-110 billion kWh.<\/p>\n<p>The share of mining in Russia&#8217;s energy consumption stands at about 2.5-3%, with official estimates below 1%.<\/p>\n<p>According to ACTEK&#8217;s report, domestic cryptocurrency mining poses an acute problem for regions with low electricity tariffs \u2014 Irkutsk Oblast, Krasnoyarsk Krai and the North Caucasus Federal District.<\/p>\n<p>In particular, in Irkutsk Oblast, electricity consumption in 2021 exceeded 2020 levels by more than 50%.<\/p>\n<p>This led to heavier loads on power grids and, as a result, equipment failures, as well as aggravating the cross-subsidisation problem in the energy sector. Moreover, guaranteed suppliers were forced to purchase electricity at unregulated prices to cover unplanned demand from households.<\/p>\n<p>To address the problem ACTEK proposes transparent regulation of commercial cryptocurrency mining to legitimise it, and differentiated tariffs for households based on consumption levels.<\/p>\n<p>Independent experts add that tax incentives could help miners emerge from the shadows, given the difficulty of equipment procurement amid chipmakers leaving Russia.<\/p>\n<p>According to <a href=\"https:\/\/u1f987.com\/en\/news\/bitriver-russia-rises-to-second-place-in-cryptocurrency-mining\">calculations<\/a> by the BitRiver data-centre operator, Russia in the first quarter of 2023 for the first time ranked second in the world by mining capacity deployed \u2014 1 GW.<\/p>\n<p>Meanwhile, the Finance Ministry assessed annual cryptocurrency mining in the country at about $4 billion. Potentially the industry could contribute around <a href=\"https:\/\/u1f987.com\/en\/news\/russian-miners-profits-estimated-at-about-100-billion-rubles-a-year\">20 million rubles a year<\/a> to the state treasury, according to the ministry.<\/p>\n<p>The industry regulation bill was registered in the State Duma of the Russian Federation <a href=\"https:\/\/u1f987.com\/en\/news\/in-russia-lawmakers-propose-banning-cryptocurrency-circulation-and-requiring-tax-reporting-by-miners\">since mid-November 2022<\/a>. It obliges individuals and legal entities to report to the tax service on mined cryptocurrencies, indicating the address to which they are credited. Its adoption is expected in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2022, the volume of energy consumption by cryptocurrency miners in Russia fell by 49% to under 5 billion kWh.<\/p>\n","protected":false},"author":1,"featured_media":82258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,27],"class_list":["post-82257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=82257"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82257\/revisions"}],"predecessor-version":[{"id":82259,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82257\/revisions\/82259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82258"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}