Russia’s energy chief stated that the country’s crypto mining capacity could potentially increase by 6.9 gigawatts (GW). Andrey Katayev, the Director of Energy Markets and External Relations at the Russian Power System Operator, made these remarks. Currently, Russia’s cumulative crypto mining capacity is at 2.7 GW, but Katayev mentioned that domestic miners aim to expand it by 2.5 times.
Speaking at a meeting of the Russian Union of Industrialists and Entrepreneurs’ Electric Power Commission, Katayev explained that data centers with 2.5 GW of power are already equipped for grid connection. Although miners will be pleased with this news, the increase in capacity may cause concern in Moscow, especially since the latest electric power systems plan, approved by the Ministry of Energy for 2024-2029, suggests that overall capacity will grow by an average of 2% per year.
Considering that industrial growth in Russia rose by 3.5% last year and is expected to continue growing this year, the expansion of crypto mining capacity could pose challenges for the grid. Katayev also mentioned that certain parts of Russia are still struggling with energy deficits, which prevents new large-scale consumers from connecting to the network.
However, he also noted that miners are quite mobile and could relocate from regions with energy surpluses if necessary. Many Russian miners have already demonstrated a willingness to do so, opting to build new data centers in regions such as the Samara Oblast and the southern republic of Buryatia instead of the traditional crypto mining hotspots like Siberia’s Irkutsk.
