Novosibirsk in Russia Takes Swift Action Against Cryptocurrency Miners Operating From Home

Russia’s Novosibirsk is taking action against home crypto miners, as law enforcement authorities in the city announced the arrest of a resident on charges of electricity fraud. The individual was apprehended during a raid in the Moshkovsky District, where six administrative violations were discovered. The man is suspected of earning over $123,000 through his mining activities, although the specific coin he mined was not disclosed. Home-based crypto mining is legal in Russia, but miners are required to comply with electricity usage limits set by local power providers. Starting from November 1, regions have the authority to order miners to shut down their operations. Power companies in Novosibirsk have been actively searching for illegal mining farms in various locations across the city. Similar crackdowns on miners have also been reported in other parts of Siberia, including Irkutsk and the Republic of Buryatia. Meanwhile, Moscow is considering implementing taxes on industrial crypto miners to generate additional revenue for the country.