Moscow Joins Russia's Mining Ban Zones, Impacting Global Bitcoin Hash Rate

Russia's cryptocurrency mining restrictions have expanded to Moscow and surrounding regions, affecting one of the world's major Bitcoin centers. The new rules will remain in force until the end of 2032 and cover areas with a combined capacity of 734 megawatts.

The move aims to mitigate power grid issues caused by high demand from energy-consuming mining facilities. Russia's Ministry of Energy cited concerns over supply shortages due to continuously growing demand from data centers.

Russia's share of the global Bitcoin hash rate is approximately 17.2%, second only to that of the United States, according to Hashrate Index's Q3 heatmap. The restriction is expected to push mining operations to other regions, potentially benefiting efficient miners in the short term but ultimately leading to a shift towards more energy-efficient locations.