Russian authorities have shut down a massive illegal crypto mining farm in Nazarovo, Siberia, that was operating on state-owned land and stealing electricity worth millions of rubles. The farm, spanning 30,000 square meters, was hidden in an industrial zone and used numerous transformers, generators, and cooling units to mine Bitcoin.
*Key Details:*
- *Location:* Nazarovo, Krasnoyarsk Krai region, Siberia
- *Size:* 30,000 square meters of state-owned land
- *Operation:* Mining Bitcoin using stolen electricity, with estimated monthly earnings of 4.6 million rubles ($58,000)
- *Violations:* Connected directly to the town's power grid without approval, posing safety hazards and risking outages
- *Action:* Court-ordered shutdown due to fire safety violations and failure to comply with public safety standards
This crackdown is part of Russia's efforts to regulate crypto mining, which was legalized in 2023 but has been restricted in certain regions due to energy concerns. The government aims to target illegal mining farms and impose penalties, including fines and crypto confiscation.¹ ²$BTC
