Ministry of Industry and Trade: Miners consume more electricity than agriculture

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More electricity is spent on mining cryptocurrencies in Russia than on agriculture, and its volume is more than 2% of the total consumed capacity of the country. This is reported by Interfax with reference to the data of the Ministry of Industry and Trade.

According to the deputy head of the department Vasily Shpak, mining should be considered a significant industry because of its prevalence.

“Do you know how much mining accounts for in the total electric generation map 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 an industry,” Shpak said during a speech at the United Russia discussion platform on the development of blockchain technologies and regulation of digital financial assets.

Shpak also noted that mining in Russia is still in the “gray zone” – it is not taxed and creates risks for people who are engaged in it. That is why he believes that this activity can be “whitewashed, regulated, made understandable and transparent to the state.”

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