Why the world’s second-largest Bitcoin mining power is shutting down rigs in its capital city
The Energy Ministry enacted the year-round restriction to mitigate power capacity shortages, as energy-intensive mining facilities continue to strain regional grids.
Source: CoinDesk
―
DW NOTE
Russia accounts for 16.4% of Bitcoin's global hashrate but just banned mining in Moscow through 2032 because the rigs are drawing a full gigawatt from a grid that can't spare it. When your second-largest mining jurisdiction starts rationing electricity to datacenters in the capital, the operation was never profitable — it was a subsidy masquerading as an industry.