JAKARTA – The authorities of the Republic of Dagestan have closed an illegal crypto mining site. They managed to confiscate more than 1,500 mining machines. The Ministry of Internal Affairs of Dagestan together with the Federal Security Service managed to stop the activity of the largest crypto mining in the country.
According to local media reports Tass, the government revealed that the owner of the illegal crypto mining provided services to other miners including mining rig mining.
They also connect it to the power grid and ensure the safety of other miners. The government is currently determining the value of the confiscated mining equipment and how much electricity they consume.
Bitcoin.com News reports that law enforcement officials who raided the illegal crypto mining hub noted that they were gathering evidence to charge the operator under the legal provisions there.
For information, the Republic of Dagestan is one of the republics in the Russian Federation. Degestan is the largest republic in the north of the Caucasus. In recent years, the Republic of Dagestan has become a hotspot for both illegal and home-based crypto mining.
The reason is that Dagestan has cheap electricity rates. With the influx of illegal miners, the government was forced to put out a blackout because it was caused by interference from crypto mining.
On the other hand, the authorities in Moscow are trying to regulate crypto mining activities as part of business activities. Because Russia has abundant resources and low cost. For home crypto mining, the Russian government will impose higher electricity rates.
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