Illegal Crypto Mining Operation Discovered in Russia

币界网报道:Russian authorities uncovered a large-scale illegal cryptocurrency mining operation in Siberia, seizing over 1,500 mining rigs worth an estimated $1.3 million. The clandestine facility was discovered in an abandoned factory in Irkutsk Oblast, where suspects had illegally tapped into the regional power grid, causing significant electricity losses. Local energy company Irkutskenergo reported abnormal power consumption patterns that led investigators to the site. Officials noted this marks one of the largest crypto mining busts in Russia this year, with the operation consuming enough electricity to power 15,000 households monthly. The mining farm allegedly operated for nearly eight months before detection, generating substantial profits through Bitcoin and Ethereum mining. Russian law currently lacks clear regulations for industrial-scale cryptocurrency mining, though lawmakers are drafting legislation that would legalize and tax such operations. Energy-rich regions like Irkutsk have become hotspots for unauthorized mining due to subsidized electricity rates. Authorities arrested three individuals connected to the operation who now face charges of electricity theft and unauthorized entrepreneurial activity, carrying potential prison sentences of up to five years. The case highlights growing tensions between crypto miners and Russian utilities as the country grapples with how to regulate the energy-intensive industry.

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