Russian Power Grid Suffers $14M Loss Due to Illegal Crypto Mining: Local Report

In latest developments, the Rosseti group [the company, which manages electricity distribution in Russia] reported vital losses as a result of unlawful connections by “black” miners, totaling over 1.3 billion rubles in 2024. 

Per Tass media native protection, probably the most substantial losses had been incurred by Rosseti North Caucasus, which confronted damages exceeding 600 million rubles, adopted by Rosseti Novosibirsk with 400 million rubles and Rosseti Heart and Volga Area at 120 million rubles.

Felony Circumstances and Legislation Enforcement Response

In line with the report, Rosseti authorities famous that they’ve efficiently suppressed 130 instances of illegal connections and unaccounted electrical energy consumption. 

The supplies associated to those instances have been forwarded to regulation enforcement businesses, resulting in the initiation of greater than 40 legal instances beneath the Russian Felony Code, which might end in imprisonment for offenders.

The corporate highlighted that mining operations typically result in community overloads, contributing to low voltage points that may harm electrical tools and home equipment. 

For context, a notable incident occurred in Chapaevskoye, the place authorities found almost 200 mining programs consuming over 12,000 kWh of electrical energy. This investigation was prompted by a sudden spike in energy utilization and complaints from native residents.

Unconventional Mining Places

Rosseti’s findings revealed that these unlawful mining farms are sometimes located in unconventional areas, starting from containers on rented land close to Nizhny Novgorod to underground parking garages in Makhachkala. 

One of many largest operations was uncovered in Novosibirsk, the place over 3,200 mining gadgets belonging to a single operator had been recognized. This operation was estimated to have precipitated damages price roughly 197 million rubles. The suspect was detained as a safety measure in the course of the investigation.

The continuing difficulty of unlawful mining poses challenges not just for Rosseti but in addition for the broader electrical infrastructure in Russia. As the corporate continues its efforts to combat these illegal activities, it emphasizes the significance of collaboration with regulation enforcement to make sure accountability and shield the integrity of the vitality provide.