Yakutia Eyes Crypto Mining at Gas Wells in Partnership with Alrosa
Regional authorities in Yakutia, Russia’s energy-rich Far East territory, are studying plans to host crypto-mining facilities at gas fields operated together with global diamond giant Alrosa. The proposal aims to use electricity from gas that would otherwise be flared or underutilized, converting an energy waste stream into potential income for the region and its industrial partner. Officials describe the move as an effort to diversify revenue streams and capture value from remote hydrocarbon resources. If approved, the project could shift some mining capacity to Siberian gas sites, altering local power dynamics and adding new logistical and regulatory questions. Observers say the economics hinge on sustained crypto prices and the cost of deploying and operating rigs in extreme climates; environmental benefits depend on whether mining reduces flaring or simply monetizes continued gas extraction. The initiative highlights how energy-producing regions are exploring crypto as a tool for resource monetization, while also drawing scrutiny over long-term sustainability and legal oversight.