In Russia, some crypto miners go underground – literally
On September 24, Reuters reported that officials in Russia's southern republic of Dagestan are demanding stricter actions against cryptocurrency miners. Local authorities claim that these miners are causing power outages and attempting to bypass regulations by constructing underground mining facilities.
In recent years, digital coin miners have faced increased scrutiny globally due to the immense computing power required to solve complex puzzles. This process relies on specialized hardware that runs continuously and consumes large amounts of electricity.
Dagestan's local prime minister, Abdulmuslim Abdulmuslimov, In Russia stated that authorities must focus more on illegal crypto mining following a substation fire in the capital, which was triggered by a surge in electricity consumpt...