Russia expands crypto mining operations with new data centres
This expansion aligns with recent government legislation to legalise crypto mining, with state-owned energy giant Gazprom also planning to build a major mining centre by 2028.
Russia is continuing its move towards becoming a major player in the crypto mining world, with the Komi Republic set to establish 15 new mining data centres. The first two centres in Mikun and Sindor will cost approximately $27.6 million. Backed by investors and a local power company, the project highlights Russia’s determination to strengthen its presence in the crypto space. While it remains unclear which cryptocurrencies will be mined, Bitcoin is expected to be the focus.
Komi’s cold winters and abundant natural resources, including oil and gas reserves, make it an ideal spot for crypto mining. This expansion follows the government’s efforts in Russia to regulate the industry, with President Vladimir Putin recently signing a law to legalise mining. Additionally, state-owned energy giant Gazprom has announced plans to build a large crypto mining centre, aiming for full capacity by 2028.
Once the hotspot for Russian miners, Siberia has seen a crackdown on illegal mining due to strain on local grids. As a result, miners are now looking to other regions like Komi to continue their operations.
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