For the next two years, the law would prohibit new licences for proof-of-work mining activities at decommissioned power plants.
Compass Mining, based in the United States, aims to sell $30 million worth of bitcoin mining equipment currently situated in Siberia. The move to sell the mining machines comes after the United States authorities sanctioned bitcoin mining company Bitriver and its 10 subsidiaries. According to a corporate official, Compass is trying to dump 12 megawatts of capacity.
The US Treasury Department has sanctioned top Russian mining outfit Bitriver in an effort to prevent Russia from using cryptocurrencies to avoid sanctions. The decision comes amid worries that Moscow may try to monetize its energy resources by minting digital currency.