Electricity Consumption in Siberian Region Rises Fourfold Due to Crypto Mining

Electricity Consumption in Siberian Region Rises Fourfold Due to Crypto Mining
The electricity consumption in Russia’s Irkutsk region rose fourfold in 2021 due to grey mining, as the government ponders new crypto regulations, Russian news agency Tass reported on Tuesday.Russian miners shrugged off the news, saying it will only affect illegal mining. The increased demand has been leading to power outages, Tass reported.Bitcoin’s jump last year along with China’s crackdown on crypto made miners flock to Irkutsk, Evgeny Vechkanov, director at the Irkutsk Electric Grid Company told Tass.In the first half of January, seven Boeing-737s loaded with mining rigs from China arrived in Irkutsk, said Oleg Prichko, CEO of Baikal Energy…