Search ForexCrunch
  • In the past three years, illegal crypto mining facilities in Russia have stolen electricity worth almost $6.6 million. 
  • The estimates come from illegal mining operations, tempered power meters and underground mining farms. 
  • Since 2017, 35 cases of illegal crypto mining facilities across 20 regions of Russia have been identified.

Over the last three years, illicit crypto mining facilities in Russia have stolen electricity worth almost 450 million rubles ($6.6 million), according to the state-owned power grid Rosseti. The grid operator reported the figures on its official Telegram channel.

According to the operator, the estimates come from illegal mining operations, tempered power meters and underground mining farms. Rosseti explained that many businesses in the country run crypto mining operations in factories, offices, remote houses and farms only to generate additional income. These businesses do not have any contract with the local power distributors and are using electricity for mining without paying for it. The grid operator is on an active lookout for such illegal operations. 

Rosseti noted that while some facilities hook a wire to the nearest power lines to steal electricity, others hide their mining equipment underground in the forests to avoid enforcement crackdowns. Since 2017, Rosseti has found 35 cases of such illegal cryptocurrency mining facilities across 20 regions of the country. The firm said: 

We closely analyze the consumption patterns looking for anomalies, inspect the power lines and measure the workload of the stations. Sometimes it’s easy to notice a mining farm by visual signs, like when a building has powerful air conditioning devices and fans installed. 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.