Russian authorities dey intensify crackdown on illegal crypto mining for Dagestan as power theft and regulatory pressure dey increase
Illegál crypto mining don Russia—specially for Dagestan area—don increase well well, plus e make government come dey tackle am properly because electricity theft and stress for power grid don increase. Rosseti wey be power company for Russia plus dia Dagestan branch don use better method detect miners wey no get permission, like how internet dem dey cut off reveal the hidden mining wey plenty. Report for electricity theft wey relate to illegal plus half-legal mining don double for 2024, them don steal over $5 million power for the last three years and 35 court case don show for different villages lately. Even though dem ban crypto mining for winter till 2031, the small small energy cost for Dagestan pořád attract miners wey dey use house electricity subsidy. Government dey reason to do more serious banning for more areas all year round plus dey reason to bring criminal punishment because current fine no too dey scare people. This new enforcement and the possible regulation changes fit make mining business change and the way miners share hash power for Russia, e fit also cause new law and operation wahala for miners and e go affect network well well.
Bearish
The hardcore crackdown wey dem dey do for illegal crypto mining for Russia, especially for Dagestan, dey cause more operational and legal risks for miners. Bigger enforcement moves, possible criminal penalties, plus ban for mining all year round dey threaten how miners go take make profit, fit disrupt the hash rate spread and make mining operations for the area unstable. This kind regulatory pressure normally mean say compliance costs go rise, some miners fit waka comot, and uncertainty go plenty, all these dey usually make the crypto price wey dey depend on local hash power like Bitcoin go fall short term. For long run, these things fit push mining activities go other areas wey no get serious regulatory risk, but the current market sentiment na negative as traders dey expect say network security fit reduce, volatility fit increase, or mining costs fit change.