Friday, March 24, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • en English
    ar Arabicbg Bulgarianzh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Crypto Miracles
Advertisement
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
Crypto Miracles
No Result
View All Result
Home Bitcoin

Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News

March 19, 2023
in Bitcoin
Reading Time: 5 mins read
0
Several Crypto Mining Operations Busted in Russia
Share on FacebookShare on TwitterPinShare on Reddit

Related articles

Operation Chokepoint: Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access

Operation Chokepoint: Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access – Bitcoin News

March 23, 2023
SEC in a Pickle: Crypto's Tricky Trio Stirs Up Trouble in 2023

SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023 – Op-Ed Bitcoin News

March 23, 2023


Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry.

‘Underground’ Crypto Mining Farms Shut Down Across Russia

Police and power suppliers have uncovered and dismantled illegal crypto mining installations in Siberia and Southern Russia, local crypto news outlets reported this week, quoting authorities. In one of the cases, the organizers of a mining enterprise have been charged with stealing large amounts of electricity.

Employees of Rosseti North Caucasus found a fairly large improvised mining farm in Shpakovsky district of the Stavropol Krai. Together with law enforcement, they confiscated 66 ASIC miners, the region’s power electric company announced on Friday.

A resident of the village of Nadezhda, who placed the equipment in his house and connected it to the grid, may now face criminal liability for running the underground facility. Power engineers have estimated that it burned 954,000 kWh of electricity for over 6 million rubles ($78,000).

Several Crypto Mining Operations Busted in Russia
Source: Rosseti

A similar installation was discovered in the attic of a school in the town of Shelekhov, Irkutsk Oblast, when police responded to a report by the local power utility about unusually high electricity consumption and noise coming from the roof of the building. Officers seized 25 mining units which had been installed by the school’s electrician and a friend of his who was an IT specialist.

Such cases are quite common in the Siberian region, dubbed the mining capital of Russia, where many people mine in basements, garages and dachas, trying to make a buck using subsidized electricity in residential areas. According to a report in February, over 1,000 lawsuits have been filed against at-home crypto miners in Irkutsk.

This week, the Prosecutor’s Office of Tomsk, another Siberian oblast, announced it has approved the indictment in a criminal case against seven local residents who organized to illegally connect several premises with crypto mining equipment to the grid. They are accused of causing damages to the power supplier for an estimated 24 million rubles (over $310,000).

The latest examples of Russian authorities clamping down on unauthorized mining come as lawmakers and government officials are preparing to resubmit a revised bill designed to regulate the activity. Amendments introducing criminal liability and harsh penalties for so-called “gray” miners who evade taxation sparked reactions from the crypto industry.

Tags in this story
Crackdown, Crypto, crypto farms, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, Electricity, Energy, gray miners, Irkutsk, Miners, mining, mining farms, Police, power, Russia, russian, Stavropol, Tomsk, underground farms, utility

Do you think the Russian government will continue to crack down on underground crypto miners? Share your thoughts on the subject in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Share2Tweet1PinShare
Previous Post

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

Next Post

Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA – Regulation Bitcoin News

Related Posts

Operation Chokepoint: Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access

Operation Chokepoint: Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access – Bitcoin News

by
March 23, 2023

Since the collapse of three American banks friendly to cryptocurrency businesses and the U.S. government’s insistence that crypto assets are...

SEC in a Pickle: Crypto's Tricky Trio Stirs Up Trouble in 2023

SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023 – Op-Ed Bitcoin News

by
March 23, 2023

2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds...

EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike – Markets and Prices Bitcoin News

EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike – Markets and Prices Bitcoin News

by
March 23, 2023

EUR/USD raced to a six-week high on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point rate...

Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85% – Market Updates Bitcoin News

Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85% – Market Updates Bitcoin News

by
March 23, 2023

On Thursday, the Arbitrum airdrop claiming process went live and ARB markets dropped more than 85% lower than pre-IOU market...

Ukrainian Startup Promin Aerospace to Send Historical NFTs Into Space – Interview Bitcoin News

Ukrainian Startup Promin Aerospace to Send Historical NFTs Into Space – Interview Bitcoin News

by
March 23, 2023

Promin Aerospace is a Ukrainian rocketry startup with backing from Google among others. The company is working with the Meta...

Load More
Next Post
Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA

Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA – Regulation Bitcoin News

Burry on Banking Crisis, Kiyosaki Warns of ‘Fake Money’ Injections; Talk of ‘Anti-Crypto’ Agenda Behind Signature Bank Collapse — Week in Review – The Weekly Bitcoin News

Burry on Banking Crisis, Kiyosaki Warns of 'Fake Money' Injections; Talk of 'Anti-Crypto' Agenda Behind Signature Bank Collapse — Week in Review – The Weekly Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions.

ten + 10 =

Crypto Miracles

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics, and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency.

Categories

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Business
  • Dogecoin
  • Ethereum
  • Guide
  • Interview
  • Litecoin
  • Market
  • Opinion
  • Press Release
  • Regulation
  • Ripple
  • Technology
  • Uncategorized

Recent Posts

  • The Rise of Altcoins: Cryptocurrencies Beyond Bitcoin
  • Operation Chokepoint: Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access – Bitcoin News
  • SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023 – Op-Ed Bitcoin News

Newsletter

    • About Us
    • Contact Us
    • Privacy Policy
    • Terms and Conditions

    cryptomiracles.com © 2021 All rights reserved.

    No Result
    View All Result
    • Home
    • Crypto News
      • Bitcoin
      • Ethereum
      • Dogecoin
      • Litecoin
      • Ripple
      • Altcoin
      • Press Release
    • Blockchain
    • People
      • Opinion
      • Interview
    • Business
    • Technology
    • Market
    • Analysis
    • Live Price
    • Regulation
    • Guide

    cryptomiracles.com © 2021 All rights reserved.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.