Russia targets illegal cryptocurrency miners with new national registry

The Russian government has just launched a national registration system for crypto mining devices to control illegal mining activities that overload the power grid. The initiative is implemented in coordination with the Ministry of Energy, the Tax Agency, and the Ministry of Digital Development, allowing for the monitoring of unusual electricity consumption and the application of appropriate taxes. Although crypto mining has been legalized since 2024, most miners have not yet registered. Individuals are allowed to mine below 6,000 kWh/month but must declare their income. In light of the electricity shortage, especially in Siberia, authorities have intensified crackdowns using internet traffic analysis technology. Recently, an illegal mining farm covering 30,000 m² was discovered in Krasnoyarsk. President Putin supports bans on mining in certain areas due to concerns over the energy crisis. The new system is a decisive step to tighten this industry.