Slashdot: Siberian Power Company Finds Illegal Crypto Mining 'Farm' On Its Own Property

Siberian Power Company Finds Illegal Crypto Mining 'Farm' On Its Own Property
Published on December 31, 2024 at 02:10AM
An anonymous reader quotes a report from Crypto News: Power providers in the Siberian crypto mining hotspot of Irkutsk have discovered an illegal mining "farm" operating on their own property. The Irkutsk Region Prosecutor-General's Office posted on VK, explaining that an unnamed Irkutsk-based "electric grid supply organization" was "found illegally providing a plot of land" to crypto miners. The prosecutors explained that the state had set aside the plot to help provide "public utilities." Instead, however, the unnamed company leased the land to crypto miners, who built a "mining farm" on the property. The office said that it had fined the power provider 330 thousand rubles (over $3,120) and censured the firm. Prosecutors have also opened an administrative case against the power company. The report notes that Siberia's cheap electricity and cold winters have attracted crypto miners, causing grid instability and power outages in regions like Irkutsk. "Miners favor the low operating costs of crypto mining farms in Siberia," reports Crypto News. "They also favor the area's cheap power costs and famously low winter temperatures, which help reduce cooling fees." Despite temporary mining bans from Moscow, illegal operations persist, prompting local crackdowns.

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