Ahead of a major crackdown on illegal cryptocurrency mines in Russia next year, a power provider in Siberia has been fined for illegally leasing state land that's supposed to be used only for public utilities to an illegal mining operation. In a social media post translated by Ars, the Irkutsk Region Prosecutor-General’s Office explained that the power provider was fined more than 330,000 rubles (about $3,000) for the improper land use.
Power Company Hid Illegal Crypto Mine That May Have Caused Outages
Ashley Belanger, Ars Technica
Mon, 12/30/2024 - 11:55am
BING NEWS:
- Illegal crypto ads prevail in UK despite FCA warning
According to a Financial Times report, 54% of the 1,702 alerts issued by the UK’s Financial Conduct Authority (FCA) between October 2023 and October 2024 ended in illegal crypto ads being taken down.
12/31/2024 - 10:10 pm | View Link - Power company hid illegal crypto mine that may have caused outages
Crypto mining is popular in Siberia because of low operating costs, Crypto News noted, due to the cool temperatures and cheap power supply. But many in Siberia have blamed crypto miners for power ...
12/30/2024 - 12:55 am | View Link - More
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