A law prohibiting the mining of bitcoin and other cryptocurrencies in apartments could soon be introduced in Russia. Creating new digital tokens increases electricity consumption and temperature in the room, which can be unsafe for residents, according to experts.
Bitcoins are mined with the use of a set of electronic devices, including video cards. Electric networks at blocks of flats are unlikely to stand such consumption; ventilation systems are not able to handle the generated heat, either. This could trigger a fire,” said Presidential Council on the Internet member Ilya Massukh in an interview with RT.
Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain. It is also the means through which new bitcoins are created.
Anyone with access to the internet and suitable hardware can participate in cryptocurrency mining. Graphics or video cards are more efficient at mining than CPUs.