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Electricity outage in Russia, blames on Crypto miners

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Irkutsk is facing a power outage these days. They are blaming those people, which are running crypto mining machines in their homes.

Trading and mining of crypto assets are legal in the Russian Federation. However, the government of Russia is not in favour of crypto circulation but they are allowing citizens to go with this trend. However existing rules are not enough to cover the crypto mining industry in Russia. 

Power grid operator company Irkutsk noted that they are facing a huge power outage. Grid operators noted that high load and consumption of electricity is coming from the whole distributed network in the cities. 

Local authorities in Russia, are claiming that such an increasing load is because of the increasing adoption of crypto mining activities in the country. People are implementing their crypto mining machinery in homes and apartments. 

Reportedly, local officials are planning to increase and upgrade the power of grids so that they can complete the needs of every citizen in Irkutsk Oblast. But on the same side, they are planning to increase the price of the electricity cost per unit. 

According to local news reports, in July there was a sharp increase in the load on power grids. And that load kept surging rapidly over time and finally, in December, it became a very big issue. 

“Despite the warm weather in November, the load increased by almost 40% compared to last year. The significant loads on the power networks and the growing number of outages are associated with the activities of miners, ” Irkutsk Electric Grid Company (IESC) stated

IESC said that the current designed and distributed network of electricity is not designed for industrial purposes, where people are not allowed to put constant pressure on the network. 

Right now, power supply operator companies replaced the fuses with high capacity load fuses. But soon a new pressure may fall on the domestic electricity consumers and also on the crypto mining Business. 

Read also: Proton CEO explains how Bitcoin is making people independent from a Centralized system

Electricity outage in Russia, blames on Crypto miners

 

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