Russia Targets Cryptocurrency Mining with Six-Year Ban on Moscow Region
Russia's Ministry of Energy has published a draft decree to ban cryptocurrency mining in Moscow and surrounding areas for over six years. The ban, which would take effect on July 1, 2026, and remain in place until December 31, 2032, aims to address the significant energy consumption by data centers.
Moscow currently has at least 65 data centers with a cumulative capacity of 734 MW, projected to reach 3.6 GW by 2032. This would account for approximately 17% of the region's maximum load. The region already consumes an estimated 1 GW of electricity, and nationwide data centers are expected to hit 15.3 GW of total capacity within five years.
The Ministry officials concluded that mining's economic contribution does not justify its energy footprint, a decision influenced by the ongoing conflict in Ukraine, which has led to power strain in Kursk Oblast. The ban specifically targets eight districts and the city of Lgov, building on the trend seen across more than 13 regions across Russia since mining was legalized through Law No. 221-FZ in 2024.