Russian power giant Russian faces a $ 14.2 million loss of illegal encryption mining

According to what was reported, Russian energy provider Russian witnessed great financial success due to illegal encryption mining in 2024, when the losses amounted to about 1.3 billion rubles (14.2 million dollars).

On February 18, local media TASS I mentioned He said that Russian that these losses stem from the unauthorized electricity consumption in multiple areas, where the North Caucasus network alone represents 600 million rubles (6.6 million dollars).

Additional losses were recorded in Novosibirsk, Center, and Volga regions, which total 520 million rubles ($ 5.7 million).

The authorities discovered one of the largest illegal mining operations in Novosibirk, with 3200 mining devices confiscated. This individual process resulted in a financial loss of 197 million rubles (2.2 million dollars).

In total, it was reported that Russian revealed 130 cases of unauthorized network connections linked to encryption mining. These incidents were delivered to law enforcement, which led to more than 40 criminal cases. Participants may face legal consequences under Russian criminal law.

Meanwhile, the company warned of the risks of illegal mining, saying that the use of unauthorized electricity can carry the network, low voltage levels, and the damage of electrical equipment. These disorders affect the company’s infrastructure and ordinary users.

The energy company recently revealed it was Explore the legal bitcoin mining projects To improve energy use – the company plans to create mining operations in excess electricity areas to improve efficiency and increase revenues.

Using surplus energy, RosSeti aims to enhance its financial position while facing unauthorized mining challenges.

Bitcoin mining system in Russia

The campaign comes on unauthorized mining in certain areas amid high demand for encryption mining equipment in Russia.

In 2024, the demand for industrial mining equipment And according to what was reported, it doubled three times Compared to the previous year. The increase can be linked with A recent organizational framework for RussiaWhich provided more clarity to Mining industry And allow the digital assets to be seen as a taxable property.

However, the authorities tighten their grip on unauthorized operations. Efforts are underway to track more effectively illegal miners, with pressure on the organizers for a Register at the level of mining equipment.