Asserting that mining of cryptocurrencies in Russia accounts for more than 2% of the total volume of energy consumed in the country, more than the electricity being used for agriculture, Vasily Shpak, Deputy Head of the Ministry of Industry and Trade said the sector needs to be regulated.
“Do you know how much mining accounts for in the overall map of electricity generation in our country? And I'll tell you: more than 2%. This is more than the cost of electricity for agriculture. We cannot but recognize mining in this sense as an industrial activity or industry,” he said during a speech at the United Russia discussion platform on the development of blockchain technologies and the regulation of digital financial assets.
