Russia’s Crypto Mining Capacity ‘Could Grow by 6.9 GW,’ Says Energy Chief
Russia’s crypto mining capacity could grow by a further 6.9 gigawatts (GW), the nation’s grid operator has claimed.
Per the news agency TASS, the comments came from Andrey Katayev, the Director of Energy Markets and External Relations at the Russian Power System Operator.
Katayev said that Russia’s cumulative crypto mining capacity currently stands at 2.7 GW. But the official added that domestic miners want to expand the size of their network “by 2.5 times.” The executive explained:
“[Russian mining-firm run] data processing centers use 2.7 GW of power. Another 6.9 GW is preparing to come online.”
Of that number, Katayev added, data centers with 2.5 GW of power “already have the technical conditions in place” for grid “connection.”
The official was speaking at a meeting of the Russian Union of Industrialists and Entrepreneurs’ Electric Power Commission.
While miners will welcome the news, the idea of this kind of capacity coming online may unsettle many in Moscow.
The Kremlin said that Russia is considering a possible downgrading of diplomatic relations with the West due to the deeper involvement of the United States and its allies in the Ukraine war, though no decision has yet been made https://t.co/rrXf8sjwxe
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Kataev noted that the latest electric power systems plan, approved by the Ministry of Energy for 2024-2029, assumes overall capacity will grow “by an average of 2% – that is 3.4 GW per year.”
With industrial growth rising in Russia, this would appear to pose problems for the grid. Industrial production increased by 3.5% last year in Russia.
These figures are forecasted to climb further this year. Kataev said of the crypto mining growth estimates:
“These are definitely, to put it mildly,
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