Rossetti, Russia’s largest energy supplier, plans to launch a cryptocurrency mining business. This initiative will allow specific energy supply centers to cooperate with Bitcoin mining companies.
Rossetti: “Cryptocurrency mining to use idle capacity”
According to Russian local media outlet, TASS, Rossetti announced that it will act “as an operator coordinating the deployment of cryptocurrency mining infrastructure” and will focus on “energy supply centers with low utilization rates.” The company believes that cryptocurrency mining will help increase the utilization of idle capacity, enhance network load, and generate additional tariff revenues, thus promoting economic development and tax growth in Russia. In order to encourage low-load power centers to participate in mining, Rossetti is exploring tools such as special electricity tariff policies.
The company explained to Media outlet that its subsidiaries “have the ability to control electricity consumption.” By using operational data on available capacity and loads, Rosseti can ensure the reliability of electricity supply across Russia’s regions.
Prime Minister Mikhail Mishustin will make a decision on Rosseti’s cryptocurrency mining proposal
Rossetti Group Chairman Andrey Ryumin reportedly asked Russian Prime Minister and de facto energy chief Mikhail Mishustin to grant official approval to Rossetti to coordinate the placement of mining centers in Russian regions.
Rossetti officials stated that the company is “interested in developing [crypto] Mining, because it will make it easier to use [spare or idle] Capacity.” The project aims to increase the load on energy supply centers, enhance the company’s tariff revenues, and contribute to the growth of the Russian economy, according to the company.
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