• Latest
  • Trending
  • All
Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News

Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News

March 19, 2023
Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

September 30, 2023
Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

September 30, 2023
Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

September 30, 2023
Why Is Bitcoin Price Up Today? Insights From Leading Analysts

Why Is Bitcoin Price Up Today? Insights From Leading Analysts

September 30, 2023
IBM Cloud inactive identities: Ideas for automated processing

IBM Cloud inactive identities: Ideas for automated processing

September 30, 2023
Do Kwon dismisses Slack chat records as irrelevant evidence

Do Kwon dismisses Slack chat records as irrelevant evidence

September 30, 2023
Dogecoin experiences numb volatility as attention shifts to thriving Shiba Memu

Dogecoin experiences numb volatility as attention shifts to thriving Shiba Memu

September 30, 2023
The Burden of Proof(s): Code Merkleization

The 1.x Files: GHOST in the Stack Machine

September 30, 2023
Cryptocurrency Price Today: Bitcoin Remains Above $26, 000 Mark As Gala Becomes Top Gainer

Cryptocurrency Price Today: Bitcoin Remains Above $26, 000 Mark As Gala Becomes Top Gainer

September 30, 2023
Popular Analyst Forecasts Potential $XRP Price Breakout as Crypto Market Moves Sideways

Popular Analyst Forecasts Potential $XRP Price Breakout as Crypto Market Moves Sideways

September 30, 2023
Solana Price Soars: Closing in on the $30 Milestone

Solana Price Outlook Amid Cautious Optimism

September 30, 2023
Bitcoin Price Sets Sights On $30,000 As Holder Metric Hits New All-Time High

Bitcoin Price Sets Sights On $30,000 As Holder Metric Hits New All-Time High

September 30, 2023
Saturday, September 30, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Crypto Mining

Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News

by Cuevas Antonio
March 19, 2023
in Crypto Mining
0
Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Several Crypto Mining Operations Busted in Russia

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

Tags: BitcoinBustedCryptoMiningNewsOperationsRussia
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
ChatGPT is Being Used to Make ‘Quality Scams’

ChatGPT is Being Used to Make ‘Quality Scams’

March 20, 2023
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

September 30, 2023
Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

September 30, 2023
Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

September 30, 2023

Recent News

Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

September 30, 2023
Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

Yield Guild Games (YGG) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

September 30, 2023
Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy’, Updates Outlook on Bitcoin, Ethereum and Solana

September 30, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Blockchain Games
  • Business
  • Crypto
  • Crypto Mining
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • Defi
  • Dogecoin
  • Economy
  • Education
  • Entertainment
  • Ethereum
  • Featured
  • Gambling
  • Governance
  • Health
  • Lifestyle
  • Litecoin
  • Market
  • News
  • Uncategorized
  • Web 3.0
  • World

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved