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- Rosseti, Russia’s state-owned electricity giant, intends to convert surplus energy into profit by utilizing idle power for Bitcoin mining, effectively repurposing excess electricity for the country’s grid.
- Rosseti aims to connect Bitcoin miners to underused power centers, optimizing capacity, boosting tariff revenue, and supporting regional economic growth through taxes.
Rosseti, Russia’s largest grid company, is exploring the development of cryptocurrency mining infrastructure at power supply centers with low utilization prospects. The company aims to play a central role in coordinating and placing mining infrastructure across the country. This initiative follows a move by Russia’s president, Vladimir Putin, who officially legalized cryptocurrency mining in 2024. The legal framework regulates the crypto sector and clarifies the obligations of those involved, setting the stage for a more structured and profitable industry.
Rosseti has expressed its interest in the development of mining as part of a larger initiative to stimulate demand in energy centers that are underutilized. While discussions are ongoing, Rosseti is considering various tools to incentivize energy consumption, including the introduction of a new type of tariff designed to manage demand effectively. This could provide a structured way to support the expansion of mining operations across Russia while maintaining energy grid stability.
Rosseti plans to coordinate the development of mining infrastructure in regions with low energy demand, using underutilized power supply centers. By tapping into surplus capacity, the company aims to optimize energy distribution and increase the load on power centers. This is expected to contribute to both Rosseti’s financial growth and the broader economic development of the regions, with additional tax revenue benefits.
Additionally, the company’s operational data allows it to track the availability of free capacity, which could be effectively used for cryptocurrency mining. The company asserts that its grid infrastructure is equipped with switching and other advanced equipment to ensure a reliable energy supply to mining facilities.
Russia’s Evolving Crypto Mining Legislation
This interest in cryptocurrency mining coincides with significant legal changes in Russia. In November 2024, new laws were introduced that allow businesses and entrepreneurs to engage in cryptocurrency mining after registering with the national miners’ registry. The legislation also includes exemptions for smaller miners using less than 6,000 kWh of electricity per month, providing flexibility for small-scale operations.
As we reported, the Russian government imposed a 15% tax on Bitcoin mining profits, marking a major step in regulating the sector and recognizing it as a legitimate contributor to the economy. These new regulations have prompted many industry leaders to view mining as a solid diversification strategy, with some experts recommending that investors allocate up to 5% of their portfolios to this growing field.
Rosseti’s move comes as other global energy companies, like Petrobras in Brazil, are also exploring the intersection of energy and cryptocurrency mining. Petrobras recently announced plans to develop a Bitcoin mining project that would utilize associated gas produced during oil extraction as an energy source. This shift toward utilizing low-cost, underused energy sources aligns with Rosseti’s objectives of enhancing efficiency and profitability in energy production.
