The US Treasury wants to tackle bitcoin miners in Russia. For the first time, we are dealing with the first sanctions from the United States for foreign miners.
The Department of foreign assets adds the Russian miner BitRiver and 10 subsidiaries to its blacklist.
According to media company The Block, This is a first step towards more pressure against miners from Russia. The measures are part of an ever-increasing package of sanctions against Putin, the people around him and all Russians.
It is not clear in which category we can put BitRiver.
The reasoning of the Ministry of finance reads as follows: “by using huge data centers that sell international mining capacity, these companies help Russia to make money on their raw materials.”
Russia is a major player in the global energy market. Bitcoin miners benefit from cheap and lots of energy. So, it is obvious that a small part of the energy reserves are used for this activity.
“The United States wants to ensure that no asset, however complex, becomes a mechanism for the Putin regime to compensate for the impact of sanctions.”
After the United States and Kazakhstan, Russia is estimated to be the country with the most miners in the world. What the sanctions will ultimately do in practice remains to be seen.