Where is the cheapest place to cryptomine in Russia?
A social norm is the amount of electricity sufficient for living. It is set per person and adjusted depending on the number of people living together. In different regions, it varies from 65 to 190 kWh per person per month. This volume is paid at a preferential rate.
Consumer electricity prices. Regional specificsAccording to Rosstat’s data for Q1 2024, utilities payments make up around 10.7% of consumer expenditures on average in Russia, including just over 1 percentage point on electricity. This share is rather stable1. The indexation of tariffs regularly influences price dynamics. For example, in July 2024, the consumer price index for goods and services grew by 1.14% compared to June 2024. Around half of this growth was driven by July’s utility price indexation, while almost a tenth of it was due to growth of electricity prices alone. The cost of electricity differs by region due to technological, climatic, economic and other conditions. In addition, the final price paid by the consumer is influenced by the presence or absence of electric stoves in payers’ housing2, time of day3, and volume of consumption4.
Rosstat’s data contains information on two tariffs depending on the volume of consumption (within the minimal volume and above it), but prior to July 2024, a single tariff not differentiated by consumption volume, was applied in most regions. In this regard, in the statistical data one can see that the cost of electricity for the minimum volume of consumption and above it is the same in almost all regions. Exceptions include the Republic of Crimea, Sevastopol, and the Kemerovo Region (from December 1, 2022), as well as regions that use a social standard rate of electricity consumption in their tariff policies: the Zabaykalsky Krai, Krasnoyarsk Krai, as well as the Vladimir, Nizhny Novgorod, Oryol, and Rostov Regions.
Overall, across the country, from 2018 to 2021, electricity prices in apartments with and without electric stoves[5] grew annually by approximately 4–4.5%, while inflation during this period averaged 4.35% per year. Prices were increased through one-time annual indexation in July or twice a year. In 2022, indexation took place twice, which resulted in tariffs growing by around 13%. Tariffs were not indexed in 2023. Taking into account the indexation of July 2024, the average growth of electricity prices for the past three years (from 2022 to 2024) annually has amounted to around 7%. Inflation during this period averaged 9% a year.
1 The structure of consumer spending from the beginning of 2014 to Q1 2024 (Rosstat data) was analyzed.
2 Rosstat’s monitoring includes electricity prices in apartments without electric stoves for the minimum consumption volume, in apartments without electric stoves in excess of the minimum consumption volume, in apartments with electric stoves for the minimum consumption volume, and in apartments with electric stoves in excess of the minimum consumption volume. The following regions are an exception. The Federal State Statistics Service for the Chechen Republic monitors electricity prices only in apartments without electric stoves for the minimum consumption volume, while in the Republic of Buryatia, Kamchatka Krai, Chukotka Autonomous Okrug, and Magadan Region, on the contrary, electricity prices are only monitored in apartments with electric stoves. In a number of regions, statistical agencies track the cost of electricity in houses with and without electric stoves, but the prices are the same. These include the Novosibirsk, Irkutsk, and Sakhalin Regions, Zabaykalsky Krai, and the Primorsky Krai; the monitoring specifics may be related to the poor gasification of some regions of the Far Eastern Federal District (FEFD). The cost of electricity in apartments without electric stoves, as a rule, exceeds the cost of electricity in apartments with electric stoves, for which a reduction factor is usually applied to the tariff.
3 Differentiation by time zones: single-rate tariff differentiated by two time zones (day, night); single-rate tariff differentiated by three time zones (peak, semi-peak and night zones).
4 The volume of consumption can be taken into account through the application of a social norm or through the identification of several consumption ranges (usually three).5 Hereinafter, data is given for the minimum consumption volume, unless otherwise stated.

Sources: Rosstat, ACRA
What is the situation with electricity prices in apartments with electric stoves? The most significant growth of tariffs since January 2018 was recorded in the Republic of Crimea, Ingushetia, and Tatarstan, where electricity prices for 100 kWh increased by 76%, 74%, and 65%, respectively. It should be noted that in different years, Moscow and the Moscow Region, as well as the Leningrad, Irkutsk, and Tomsk Regions, have repeatedly been among the five regions that index tariffs most significantly.
Figure 2. Regions with the most significant growth of electricity tariffs since July 2018

Sources: Rosstat, ACRA
Due to the uneven indexation of tariffs, the gap in cost between the most expensive electricity (Chukotka Autonomous Okrug) and the cheapest (Irkutsk Region) decreased from 5.7x in January 2018 to 4.5x in August 2024 due to the catch-up growth in electricity prices in the Irkutsk Region.
The three regions with the highest electricity prices has usually included the northern regions of the FEFD. Moscow (a single tariff not differentiated by consumption volume) has been part of this group since 2020.
Figure 3. Moscow has been among the three regions with the highest electricity tariffs in apartments with electric stoves since 2020

Sources: Rosstat, ACRA
In terms of the cost of electricity consumed in excess of the minimum volume, the maximum value remains in the Chukotka Autonomous Okrug, while the minimum is in the Irkutsk Region.
In terms of growth of electricity tariffs, the Chukotka Autonomous Okrug leads, alongside some other northern regions of the FEFD, as well as Moscow. In these regions, until 2020, tariffs even exceeded the increased electricity tariff, which is applied in regions using a social norm or a tariff differentiated by consumption volume (for consumption above the norm or outside the first range of consumption volume).
Figure 4. Regions that were among the three regions with the most expensive electricity from January 2018 to July 2024

Sources: Rosstat, ACRA
What is the situation with electricity prices in apartments without electric stoves? For apartments without electric stoves6, the difference in tariffs between regions is not decreasing, which differs from the dynamics for apartments with electric stoves. The Republic of Sakha (Yakutia) regularly demonstrates the highest tariffs: in January 2018, they were 5.6x higher than the lowest tariffs, which were again typical for the Irkutsk Region. In August 2024, this ratio declined to 5.4x. The Republic of Sakha (Yakutia), Moscow and the Moscow Region are consistently the three regions with the most expensive electricity in apartments without electric stoves.
In apartments without electric stoves, the highest electricity tariffs above the minimum consumption volume were observed in regions using a social norm or a tariff differentiated by consumption volume: prior to 2023 — in the Nizhny Novgorod Region, and from 2023 — in the Kemerovo Region. In the Irkutsk Region, tariffs were minimal once again. The difference between the maximum and minimum tariffs for the period from January 2018 to August 2024 decreased from 5.9x to 5.5x.
Along with the regions of the Russian Federation that use a social norm or a tariff differentiated by consumption volume, the three leaders include the Republic of Sakha (Yakutia), Moscow, and the Moscow Region.
6 The cost of electricity in apartments without electric stoves, as a rule, exceeds the cost of electricity in apartments with electric stoves, to the tariff of which a reduction coefficient is usually applied. The exceptions are the Zabaykalsky Krai, Primorsky Krai, Irkutsk, Sakhalin, and Novosibirsk Regions, where a preferential tariff is not provided for apartments with electric stoves, as well as the Kamchatka Krai and Chukotka Autonomous Okrug, where information on the cost of electricity in apartments without electric stoves is not published by statistical agencies; the peculiarities of monitoring may be associated with poor gasification of some regions of the FEFD.
Figure 5. The highest tariffs for electricity consumed in excess of the minimum volume are observed in the Nizhny Novgorod and Kemerovo Regions

Sources: Rosstat, ACRA
New tariffs: challenges and prospects. On July 1, 2024, most regions introduced tariffs differentiated by consumption volume. Each region independently determined the boundaries of three consumption ranges, for each of which a separate tariff was set. For the first range, a preferential tariff is usually applied, for the second an economically justified one is applied, for the third a commercial tariff is applied.
Currently, the lowest threshold for the first consumption range is set in the Republic of Crimea, as well as in Sevastopol and the Kaliningrad Region (Fig. 6). The ceiling of the first consumption range in these regions is 130–150 kWh, which is close to general household consumption. The most common ceiling of the first range in most regions varies from 10,000 to 11,000 kWh.
Figure 6. The Irkutsk Region has the highest ceiling of the first electricity consumption range
Sources: electricity companies, ACRA
According to data disclosed by electricity companies, the Republic of Bashkortostan, Republic of Khakassia, and the Irkutsk Region have set the highest ceiling of the first range at more than 20,000 kWh.
The introduction of a new calculation method will not affect households and equivalent consumer categories, as most households fall into the first range with the lowest tariff in terms of consumption. This differentiation is aimed at solving the problem of identifying abnormally high electricity consumption and reducing the amount of cross-subsidization associated with illegal business, including mining, which is still paid at a preferential rate for households and equivalent categories.
After the introduction of tariffs differentiated by consumption volume, the amount that consumers pay for electricity in different regions will be determined not only by differences in tariffs, but also by differences in the boundaries of the three consumption ranges. Residents of the Chukotka Autonomous Okrug, Moscow, and the Republic of Sakha (Yakutia) will receive the highest bills for electricity normally consumed in apartments equipped with electric stoves (based on the assumption that a household consumes about 200 kWh per month), while residents of the Irkutsk Region, Khakassia and Dagestan will pay the least.
Where is it more beneficial to consume a lot of electricity? This year, large amounts of electricity are cheaper in the Republic of Dagestan and the Tyumen Region, as no information is available about their transition to tariffs differentiated by consumption volume, so the calculations are based on single tariffs. This means that mining is potentially cheaper in these regions7.
7 Changes introduced to Federal Law dated July 31, 2020 No. 259-FZ (as amended on August 8, 2024) “On digital financial assets, digital currencies, and amendments to certain regulations of the Russian Federation” and effective on November 1, 2024 include the following provision: “Citizens of the Russian Federation, other than sole entrepreneurs, can mine digital currencies (including participation in mining pools) without being included in the register of digital currency miners, provided that energy consumed for mining does not exceed the energy consumption limits set by the Government of the Russian Federation”.
Figure 7. This year, high electricity consumption is cheapest in the Republic of Dagestan8

Sources: electricity companies, ACRA
8 Three regions with the most beneficial electricity prices within a certain consumption amount.
The volume of electricity consumed by one ASIC Miner, depending on model, according to various sources, varies on average from 1 to 5.5 kWh. Therefore, if we take an average value of 3 kWh, one device will consume 72 kWh per day or 2,160 kWh per month (excluding additional electricity for air conditioning). In six regions applying the social rate, as well as in Sevastopol, the Republics of Crimea and Kalmykia, and the Kaliningrad, Ivanovo, Kursk, and Voronezh Regions, this volume will be paid for at increased rates. In the Irkutsk Region, the ceiling of the first electricity consumption range is the highest in the country (25,000 kWh), thus, to exceed this energy consumption threshold, it is necessary to have about 12 constantly operating miners. However, according to the Decree of the Government of the Russian Federation dated November 1, 2024, the ranges’ boundaries will be revised in the near future. The ceiling of the second range will be set at no higher than 6,000 kWh9, and the ceiling of the first range can be determined by regions independently, but with a coefficient not exceeding 0.65 of the ceiling of the second range. In other words, if a region sets the ceiling of the second range at 6,000 kWh, then the ceiling of the first range should not be higher than 3,900 kWh. The ceiling of 6,000 kWh was not chosen by chance — it applies starting from November 1, 2024 for digital currency mining by individuals who are not sole entrepreneurs10. This consumption limit will allow any individual, without the need to register as a sole entrepreneur and a person engaged in digital currency mining, to have around three permanently operating miners. According to the current range boundaries and tariffs, mining will be the most cost effective in the Irkutsk Region, the Republics of Khakassia and Dagestan, and the Tyumen Region (RUB 9,000–16,000 per month), and the most expensive in the Republics of Crimea, Kalmykia and Tyva (RUB 43,000–47,000 per month). This difference is explained by the fact that the energy consumption level of 6,000 kWh still falls into the first range and is paid at a discounted rate in the Irkutsk Region and the Republic of Khakassia, the rate is not yet differentiated by consumption volume and electricity is paid at a single rate in the Republic of Dagestan and the Tyumen Region, while in the Republics of Crimea, Kalmykia and Tyva, the consumption level of 6,000 kWh exceeds the ceiling of the second range and is paid at the rate set for commercial consumers. It is worth noting that the Government of the Russian Federation may forbid mining or participating in mining pools in certain regions or areas within any region11.
According to media reports, a meeting of the Government Commission for the Development of the Electricity is scheduled for November 18, 2024. The meeting is expected to approve a list of regions where mining is banned as early as this year, as well as the duration of these bans. Regions of the North Caucasus, the Irkutsk Region, the Republic of Buryatia, and the Zabaykalsky Krai may potentially be included in the list.
9 According to Decree of the Government of the Russian Federation dated November 1, 2024 No. 1469 “Setting the electricity consumption limit for mining digital currencies (including participation in mining pools) without inclusion in the register of digital currency miners who are citizens of the Russian Federation other than sole entrepreneurs, and amending Decree of the Government of the Russian Federation dated December 29, 2011 No. 1178”, Decree of the Government of the Russian Federation dated December 29, 2011 No. 1178 “On pricing in the area of regulated prices (rates) in the electric power sector” (along with “Fundamentals of pricing in the area of regulated prices (rates) in the electric power sector” and “Rules for state regulation (review, application) of prices (rates) in the electric power sector”) will be appended with par. 70(1) that sets forth the ceiling of the second electricity consumption range at 6,000 kWh per month.
10 Clause 1 of Decree of the Government of the Russian Federation dated November 1, 2024 No. 1469 “Setting the electricity consumption limit for mining digital currencies (including participation in mining pools) without inclusion in the register of digital currency miners who are citizens of the Russian Federation other than sole entrepreneurs, and amending Decree of the Government of the Russian Federation dated December 29, 2011 No. 1178”.
11 Part 12, Article 14 of Federal Law dated July 31, 2020 No. 259-FZ (as amended on August 8, 2024) “On digital financial assets, digital currencies, and amendments to certain regulations of the Russian Federation”.