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One of Russia's Largest Companies is Getting Ready to Enter the Bitcoin (BTC) Sector! Here are the Details...
Russia's largest state electricity grid company Rosseti is planning to enter Bitcoin (BTC) mining.
According to the local news agency TASS, Rosseti, Russia's largest energy supplier, plans to implement Bitcoin mining to improve the use of idle electricity sources, increase the load on electricity supply centers, and enhance the company's electricity revenue growth and local economy and taxation.
According to Rosseti's statement, the company will serve as an operator coordinating the distribution of its crypto mining infrastructure and will focus on power supply centers with low energy usage rates.
According to the news, Rosseti CEO Andrei Reyumin wrote a letter to Russian Prime Minister Mikhail Mishustin requesting approval to coordinate the deployment of mining centers in various regions.
The company claims that crypto mining will not only improve the use of idle capacity, but also increase network load and tariff revenue, thereby promoting Russia's economic development and tax growth.
Last December, Russia signed a ban that will be implemented from 2025. Accordingly, Russia banned cryptocurrency mining in 10 regions from the new year to prevent power outages.
According to this, cryptocurrency mining will be completely banned in ten Russian regions from January 1, 2025, and the ban is planned to be valid until March 15, 2031.