Russia will ban data processing centers from using cheap electricity for cryptocurrency mining

According to Cryptonews, if subsidized electricity is used, Russia will prohibit domestic data processing centers from mining cryptocurrency. Previously, the government had revised the mining bill draft passed on the first reading of the State Duma in 2022. Currently, officials are working with lawmakers to improve the bill before the second reading. According to the bill, data processing centers need to register on the registry managed by the Ministry of Digital Development and Communications, and operators must promise not to mine in the center in order to enjoy preferential electricity prices. The bill makers stated that this move aims to prevent miners from enjoying electricity subsidies, which will only be provided to data centers identified as "communication facilities". Russian power companies will provide subsidized electricity to residents, industrial and commercial enterprises, and in recent months, lawmakers have called for the establishment of unsubsidized electricity prices for mining companies. Joining the registry is voluntary, but it is prohibited to install mining equipment after joining, even if it is not connected to the internet.