Russia's Irkutsk Oblast may implement a year-round ban on cryptocurrency mining starting April 1

According to Cryptonews, citing the Russian newspaper Kommersant, Irkutsk Oblast, Russia's largest Bitcoin mining hotspot, may ban all cryptocurrency mining activities throughout the year from April 1. The ban will only apply to the southern part of Irkutsk Oblast in Siberia, but may last until mid-2031.

Kommersant, a media outlet with good relations with the Kremlin, said its sources revealed that the Russian government "may ban mining activities in southern Irkutsk Oblast as early as April 1." As Russia's first Bitcoin mining center, southern Irkutsk Oblast has several large mining centers that together consume about 650 megawatts of electricity. Industry insiders told the newspaper that a full ban would cause great problems for these centers. They added that "if a ban is implemented," they will be unable to take action "because it is difficult to connect to networks in other regions." Many neighboring regions have also implemented winter cryptocurrency mining bans, which may leave miners with no choice but to relocate.