Russia Considers Construction of New Power Plants in Siberia to Meet Energy Demand from Miners

• Russia is considering the construction of new power plants in Siberia due to high energy demand from miners.
• Regional authorities have abandoned a proposal to introduce higher electricity tariffs for cryptocurrency mining at homes.
• The Ministry of Energy is looking into the development of the energy networks used by mining companies and the construction of more power plants.

As the demand for electricity from cryptocurrency miners continues to increase in some parts of Siberia, Russian Minister of Energy Nikolay Shulginov has acknowledged the potential need for new power generation facilities in the region. With the rising consumption of electricity from residential areas as well, Shulginov indicated that authorities in the Republic of Khakassia and Irkutsk Oblast are looking into further developing the energy networks used by mining companies and the construction of more power plants.

The decision to consider the construction of new power plants comes after the regional authorities abandoned a proposal to introduce higher tariffs for Russians minting digital coins at their homes. Shulginov commented in an interview that the Ministry of Energy’s position has always been to create working conditions for mining. He noted that electricity consumption of the population has risen as well, which must be taken into account.

In order to meet the increasing demand for electricity from miners, Shulginov suggested that additional generating capacities may be necessary. He did not reveal any specific plans but made it clear that authorities in these regions are considering the necessary steps to ensure that the energy needs of miners are met.

The energy minister also emphasised the importance of ensuring the safety of the electricity networks, in order to avoid any damage caused by the rising consumption. He concluded by expressing his support for the development of the mining industry in Russia, and indicated that the Ministry of Energy is committed to creating the necessary conditions for miners to operate.

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