In Central Siberia, Russian prosecutors dismantled a large illegal cryptocurrency mining farm spanning 30,000 square meters.
Closure of Illegal Mining Farm in Nazarovo
The Krasnoyarsk Krai Prosecutor's Office conducted an operation to shut down an illegal crypto mining facility in Nazarovo. The site was found to be operating as a non-residential property, creating risks of severe power outages.
Authorities' Actions and Their Reasons
The operation was initiated following a tip-off from a local energy provider about abnormal power consumption. Prosecutors and local energy officials were involved in the process, highlighting the authorities' commitment to enforcing compliance with new mining regulations set to take effect in 2024.
New Rules and Consequences for Miners
Following the shutdown, approximately $58,672 in monthly revenue was eliminated from illegal operators, which is expected to help stabilize the local power grid. Moving forward, miners will be required to register and comply with new regulations, facing strict penalties and asset seizures for violations.
The closure of an illegal cryptocurrency mining farm in Russia underscores the growing trend toward better compliance with mining legislation and the protection of energy infrastructure. Authorities aim to combat financial misuse while ensuring the stability of energy supply in the region.
