Russian lawmakers may approve a bill that will legalize Bitcoin mining in Russia from 2023. A similar bill was rejected by Russian parliament’s lower house Duma last month, citing loopholes. Member of Parliaments (MPs) also slammed the haste in pushing the bill. Russian government’s chief crypto legislation officer has confirmed the bill to that effect, media report said.
Duma’s Committee on the Financial Markets, Anatoly Aksakov, said the bill would be presented in parliament in December and MPs will debate it. Aksakov expressed confidence the bill would pass as it had been diligently prepared and vetted by the regulations committee.
According to local media scoops, one of the major proposals was allowing companies to carry out crypto mining. They can run operations on Russian soil but will not be allowed to trade the coins mined in the country. It will also permit crypto mining pools with tighter government regulation for approved “individual” and “industrial miners.”
Meanwhile, Arkon Energy, an Australian renewable data center infrastructure company raised millions to expand its Bitcoin mining operations and acquired another Europe-based data center. The company uses 100% renewable electricity to mine BTC.
Arkon CEO Josh Payne said under the current market climate, low prices for Bitcoin and mining equipment are offering a compelling opportunity to take advantage of profitability and access to growth capital.
Arkon acquired Norway’s leading renewable energy-based data center, Hydrokraft AS, to create a “vertically integrated green Bitcoin mining platform.”
