Russia’s energy minister, Nikolay Shulginov, has acknowledged the growing demand for electricity from cryptocurrency miners in certain regions of Siberia and has indicated that additional power facilities may be necessary to meet this demand.
Russia has recently pushed to legalize the use of cryptocurrency as a means to conduct international trade and has followed India in regulating digital assets.
While the country has seen a boom in mining revenue, it has not yet permitted the use of cryptocurrency as a means of payment for its citizens.
Instead, the Russian Federation aims to use cryptocurrency to “boost foreign trade.”
