As the war in Ukraine continues in its 10th month, the Russian Federation recently announced a possible increase in energy production as demand from crypto miners increased.
This increase in crypto mining can be attributed to the Federation’s push to legalize the use of crypto as a means to conduct international trade.
The Russian energy minister has admitted that the industry’s rising need for electricity may necessitate the installation of additional power plants in Siberia.
Russia has been the subject of controversy both domestic and international since the start of its “special military operation” in Ukraine.
The country, already sanctioned by the European Union and the United States, now has international assets seized and its banking system cut from the SWIFT protocol.
Is Crypto The Answer To Russia’s Woes?
Nikolay Shulginov, Russia’s Minister of Energy, has acknowledged the growing need for energy from cryptocurrency miners in certain regions of Siberia.
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