Russia has banned secret mining in Moscow and Kursk until 2032

DECREE NO. 936 OF THE RUSSIAN GOVERNMENT STIPULATES THAT THE CITY OF MOSCOW, THE MOSCOW REGION AND PARTS OF KURSK WILL BE PROHIBITED FOR THE ENTIRE YEAR FROM DEVELOPING MINES AND PARTICIPATING IN MINES IN ENCRYPTED CURRENCY UNTIL 31 DECEMBER 2032. ACCORDING TO THE RUSSIAN MINISTRY OF ENERGY, THIS IS PRIMARILY TO MITIGATE THE CAPACITY SHORTAGE RISKS ASSOCIATED WITH ACCESS TO THE ELECTRICITY GRID IN HIGH-ENERGY MINES. CURRENTLY, THE ENCRYPTED MINE LOAD IN THE MOSCOW POWER SYSTEM IS ABOUT 1 GW, WHILE THE LOCAL DATA CENTRE CAPACITY IS LIKELY TO INCREASE TO 3.6 GW BY 2032, OR ABOUT 17 PER CENT OF PEAK ELECTRICITY DEMAND. RUSSIA HAD PREVIOUSLY IMPOSED LONG-TERM MINING RESTRICTIONS IN SEVERAL REGIONS, WHILE STILL ALLOWING FOR THE USE, UNDER CERTAIN CONDITIONS, OF ENCRYPTED CURRENCIES MINED IN ITS TERRITORY FOR FOREIGN TRADE SETTLEMENTS。