Russian bitcoin (BTC) miners reportedly used a whopping 1.25 gigawatts (GW) of electrical power to fuel their activities in 2021, almost double their total for 2020 – as the industry continues to expand in the nation.
Per Novie Izvetiya, Intelion Data Systems experts calculated that altcoin mining efforts last year may have used up to 0.625GW worth of electricity.
The experts added that the annual increase in electricity consumption for crypto mining in Russia has trended upwards relentlessly since 2017 – and has increased by at least 150% per year.
In 2020, Russia-based BTC miners used 0.728GW to power their mining efforts.
Large-scale industrial crypto miners account for between 40% and 45% of Russia’s total BTC mining activity, and experts argue that this figure will likely grow quickly in the future.
Oil producers like the majority state-owned Gazprom Neft are already expanding pilots that allow miners to power their rigs using associated gas at oil drilling sites. A plant in...
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