Moscow Bans Home Cryptocurrency Mining Over Power Concerns

Home cryptocurrency mining in Moscow and its surrounding region has been completely banned as of August 15. This new regulation affects not only registered businesses but also private owners of small farms, according to Rufat Abyazov, founder and CEO of GBIG Holdings.

The ban applies to several groups at once, with different consequences for each. Private miners who kept two or three setups at home are the largest group and most vulnerable. Previously, mining in these areas was legal if monthly consumption did not exceed 6,000 kilowatt-hours. However, after August 15, mining in Moscow and the region is completely prohibited, regardless of volume.

The main problem with this format of mining is the load on ordinary household networks. Apartment wiring is not designed to operate equipment in a mode close to industrial, especially around the clock. The main risks here are quite practical:

High load on household electrical networks.

Risk of overheating and overloading the wiring.

Fire hazard for the equipment owner and neighbors.