The power outages in Irkutsk have been attributed to Russian cryptocurrency miners operating from their residences. In the area of Russia, where energy costs are the lowest, power outages have become a regular occurrence. Many communities have found a source of income via mining due to the government’s subsidy of domestic electricity.
Irkutsk’s power grid operators have been faced with an increasing number of outages. The area and city are seeing a noticeable rise in power demand, which is straining the distribution system. Local authorities assert that this results from bitcoin miners operating out of their flats, basements, and garages.
They have come up with a plan to deal with the problems that are only becoming worse due to the present state of things. The Russian business newspaper Kommersant said that authorities in Irkutsk Oblast plan to increase the distribution network’s capacity, implement higher prices for crypto miners, and build dedicated platforms to host their activity.
According to the report, Irkutsk had several scheduled and unplanned power disruptions in December. The local utility informed the newspaper that grid stress in residential areas had increased significantly since June.
During the pleasant weather in November, the load climbed by about 40% over the previous year.
The Irkutsk Electric Grid Company (IESC) noted that “miners’ operations are related with large demands on the power networks and an increasing frequency of outages.
According to their projections, consumption in Irkutsk increased by 108 percent in 2021.
As the machinery runs around the clock, coin minting consumes much energy. Engineers warn that current urban electrical networks are not prepared for the continual “industrial” demand created by mining equipment. The company had to shut down several regions to repair fuses and upgrade electricity cables.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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