Russian Vice PM: why not use Far East power capacities to mine bitcoins?

The Plenipotentiary of the President of the Russian Federation in the Far East, Yuri Trutnev, expressed his opinion on mining and cryptocurrencies in his interview to the Russia 24 TV channel. He believes that surplus power from isolated power plants in the Far East can be used for cryptocurrency mining.

He explained that the situation with the power consumption in the Far East is very colorful; there are isolated energy systems and power grids, and there are also facilities which produce much more than consumers need. This surplus power certainly can be used and projects on this matter are being developed, Mr. Trutnev concluded.

The Vice Prime Minister noted that cryptocurrencies are rapidly growing in price and this should not be missed. “Cryptocurrency prices are growing exponentially, so why should we idly stand by and watch this? I can’t fully understand why,” stated Trutnev to the Russia 24 interviewer.

The news about how Russia plans to use its huge power plant system to mine cryptocurrencies have previously appeared in the media, but there wasn’t any official confirmation that the combination of cheap energy prices and excess capacity is actually that big to make the Russian government consider investing in state mining. Now, it seems, at least a group of people in the government led by the Vice PM Trutnev, advocates this idea.