Putin blames the gradual ban on crypto mining in Russia on energy shortages, with rising electricity prices exacerbating the miners' difficulties.
Recently, Russian President Putin attributed the gradual nationwide ban on crypto mining to the booming development of digital currency minting, which has led to an increasingly severe energy shortage. Putin's comments on this matter came after a recent rise in electricity prices, as analysts predicted, this could affect the business of Bitcoin mining companies in the Russian Federation. This ban not only reflects the pressure on Russia's energy supply but also impacts the landscape of the global crypto mining industry.