Russia May Ban Bitcoin Mining In Residential Homes Over Electricity

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for the data centers that bitcoin mining requires because "electricity and land.

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The relationship between Russia and cryptocurrency continues to evolve in different manners. It appears there is now a proposal on the table to ban Bitcoin mining in residential areas. Assuming there is any truth to this concept, things aren’t looking great for cryptocurrency miners in the country. Any apartment or flat housing a Bitcoin mining [.

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04/09/2017  · Russia May Ban Bitcoin Mining In Residential Homes Over Electricity Costs, Heating Russia May Ban Bitcoin Mining In Residential Homes Over Electricity Costs, Heating By Xrphunter, September 4, 2017 in Alt-Coins and General Fintech

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Russia could prohibit bitcoin mining in large residential spaces like apartments and high-rise flats if one prominent government-backed organization had its way.

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" What we have here is a standard residential home, but this shed,

a moratorium on new mining requests until they could agree on a solution.

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(See also: China Intensifies Crackdown On Bitcoin Mining.).

reporting state that China is home to a majority of bitcoin mining operations.

Russia is considering a ban on Bitcoin mining in private homes, despite electricity companies holding talks on giving miners spare capacity. According to Russia Today and local news outlet RIA Novosti, the governmental Informational Democracy Fund will recommend banning participation in mining pools from private addresses at an upcoming meeting of a working group on Internet growth.

A law prohibiting the mining of bitcoin and other cryptocurrencies in apartments could soon be introduced in Russia. Creating new digital tokens increases electricity consumption and temperature in the room, which can be unsafe for residents, according to experts.