Rosseti Plans Crypto Mining Integration, Sparking Market Control Debate
Russia's state-owned power grid giant, Rosseti, has revealed plans to integrate cryptocurrency mining into its power plants. The move aims to better utilize underused capacities and boost revenue, while keeping electricity prices affordable for the population. However, the plan has sparked debate about potential market distortions and state control.
Rosseti wants to determine the locations of mining facilities and manage their energy consumption, potentially influencing where and when mining is profitable. It also aims to start its own mining activities and coordinate the locations of all mining facilities in Russia. The company could use variable electricity prices for miners to indirectly control the industry, banning or favoring entire regions for mining.
Critics, such as Sergei Bezdelov and Sergei Sasim, argue that Rosseti's plan could violate competition principles and hinder economic sector development. They worry that the state corporation's influence could distort the stock market today and disadvantage private mining companies. Despite these concerns, Rosseti remains interested in the integration, aiming to attract new consumers like statefarm mining companies to boost electricity demand in underutilized areas.
Rosseti's plans to integrate cryptocurrency mining into its power grid could have significant implications for the industry in Russia. While the move promises better utilization of power plants and increased revenue, critics warn of potential market distortions and state control. The ultimate impact of Rosseti's plans remains uncertain, as such regulations often have a deterrent effect on private mining companies.
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