Russia and Belarus to Introduce Special Electricity Tariffs for Crypto Miners

Authorities in Russia and Belarus have started initiating steps to ensure that crypto miners do not enjoy subsidized energy
Authorities in Russia and Belarus have started initiating steps to ensure that crypto miners do not enjoy subsidized energy

Authorities in Russia and Belarus have started initiating steps to ensure that crypto miners do not enjoy subsidized energy. The implication of this move is that businesses involved in the minting activities of digital coins might have to adopt increased electricity tariff rates as opposed to what general energy users will be paying.

Cryptocurrency Miners in Russia and Belarus Likely to Face Higher Energy Charges

All facilities involved in the extraction of digital currencies in both Russia and Belarus are likely to begin paying more than the usual, for the electrical energy they need. According to media reports, authorities in both countries are presently taking relevant steps in that regards, to see to it that special tariffs are introduced for this category of electricity consumers.

In fact, the Russian Ministry of Energy has already thrown its weight behind the idea through the head of the department, Nikolai Shulginov. Speaking to reporters during the Russian Energy Week, Shulginov said crypto miners do not have the right to pay the same electricity tariff rates as common households do. As quoted by the business news portal RBC, Shulginov says that the ministry has now started working on the issue. He then added that the move is important in order to maintain the quality of power supply and also to keep its reliability.

The government official insists that electricity consumption by miners must be excluded from that of the general population, while also making it clear that miners should not be allowed to take advantage of the present tariffs because that can deteriorate the present energy situation even further.

Shulginov’s comments follows after Igor Kobzev, the governor of Irkutsk Oblast recently complained about illegal crypto miners to Alexander Novak, Russia’s deputy prime minister who’s in charge of fuel and energy complex. According to Kobzev, as quoted by the business daily Vedomosti, their mining actions increase the load on the power grid of the Siberian region while also risking breakdowns at the local power plants.

Meanwhile, in the neighboring Belarus, the Ministry of Energy has already categorized crypto miners in a different tariff category. The decision is part of a joint decree with the Ministry of Antimonopoly Regulation and Trade that was issued late last month.

Russia and Belarus are not alone on this path of increasing tariffs for crypto miners though. On September 3, TheCoinrise also reported about Kyrgyzstan doing the same.