Illegal Crypto Mining Causes $14M in Losses for Russian Power Company—Report

Illegal Crypto Mining Causes $14M in Losses for Russian Power Company—Report

According to a report uploaded on February 18, last year, Russia’s Rosseti Group, a major player in the nation’s electricity sector, reported damages of over 1.3 billion rubles (approximately $14.2 million) caused by “unauthorized” cryptocurrency mining operations. These “black” mining farms tapped directly into Rosseti’s power network without authorization, severely impacting the company’s resources and … Read more

Strategic Bitcoin Reserve Proposed By Russian State aDeputy

Strategic Bitcoin Reserve Russia

Anton Tkachev, a State Duma deputy from the “New People” party, has formally proposed the establishment of a Strategic Bitcoin Reserve (SBR). Tkachev submitted an appeal to the Russian Minister of Finance, Anton Siluanov, advocating for the creation of a Bitcoin reserve analogous to the country’s existing reserves in traditional currencies. The proposal has been … Read more