Putin warns that uncontrolled cryptocurrency mining could trigger a Russian energy crisis, emphasizing the performance and practicality of the digital ruble

Russian President Vladimir Putin has warned that the uncontrolled growth of bitcoin mining in Russia could lead to energy problems, especially in regions with frequent power shortages such as Irkutsk, Buryatia and Transbaikal Krai. Putin pointed out that these mining activities consume about 1.5% of the country's total electricity consumption, or up to 16 billion kWh per year. He stressed that unchecked mining expansion could lead to the regional power system reaching its limits, affecting the development of enterprises, housing and public service systems.
Against the background of the chaotic situation of bitcoin mining, Putin also seized the opportunity to promote the Russian digital ruble, the central bank digital currency (CBDC), saying that it has completed 7,000 payments for goods and services and more than 27,000 transfers in the test phase, emphasizing its performance and practicality. The digital ruble is part of Russia's economic modernization plan to reduce dependence on Western Financial Institutions Groups.