Russian power grid titan eyes Bitcoin mining ventures

Key Takeaways

• Rosseti Group is exploring cryptocurrency mining opportunities at underutilized power centers.
• The company aims to coordinate mining infrastructure deployment and increase revenue and tax payments.

Rosseti, Russia’s largest power grid operator, is exploring crypto mining operations at its underutilized power centers and aims to become a coordinator for mining infrastructure deployment across the country, according to state news agency TASS.

“The Rosseti Group is the largest grid company in Russia and can act as an operator for coordinating the placement of mining infrastructure,” the company told TASS.

The state-owned energy provider sees crypto mining as an opportunity to utilize spare capacity at low-load power centers, which could increase both the company’s tariff revenue and tax payments while contributing to economic development.

The grid operator confirmed its technical readiness for mining operations, noting that its infrastructure is equipped with the necessary switching equipment to manage mining facility loads. The company also maintains operational data on available capacity and consumption patterns to ensure reliable regional power supply.

Rosseti is currently discussing various aspects of its mining development strategy, including the potential introduction of a separate tariff structure for miners as a demand management tool.

Last August, President Vladimir Putin signed a law regulating crypto mining as part of the country’s digital asset management strategy. Under the law, only registered entities and individual entrepreneurs are allowed to engage in large-scale crypto mining operations in Russia.

Due to power shortages, the Russian government has banned crypto mining in several regions starting January 1, 2025, extending through March 15, 2031.