Seven Years Dark: Inside Moscow’s Bitcoin Mining Shutdown
Moscow has banned cryptocurrency mining, including participation in mining pools, until December 31, 2032, citing the need to prevent power-capacity shortfalls. This decision impacts a significant portion of Bitcoin's global hashrate originating from Russia. The ban occurs amidst discussions of using domestically mined Bitcoin for international payments to circumvent Western sanctions, a move previously targeted by U.S. sanctions against firms like BitRiver.
- Entities
- Topic: Bitcoin
- Topic: Sanctions
- Person: Anton Siluanov
- Company: US Treasury
- Topic: Energy Grid
- Company: Russia's Energy Ministry
- Company: BitRiver
- Topic: Cryptocurrency Mining
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