A small self-proclaimed Transnistria is profiting from mining

Verified
5 months ago
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Almost all the capacities of the largest power plant of Transnistria (Pridnestrovian Moldovan Republic) were involved in mining, according to the recent media posts, and the largest industrial holding of the republic profited from this immensely.

It represents a common trend: the popularity of mining and crypto in economically isolated regions continues to increase. In Transnistria, the largest electric power capacities of the republic are now directed towards mining. “The budget received its first revenues. As far as I know, another batch of equipment has been delivered to the Pridnestrovian Republic, and this activity is gaining momentum,” says the head of the Transnistrian government, Alexander Martynov, following the results and inspection of the power station.

In Moldova, however, Transnistria is accused that miners use electricity produced from gas imported from Russia, boosting the debt of Moldovagaz to the Russian company of Gazprom.

At the end of January 2018, the Supreme Council of Transnistria passed an act allowing all types of activities with virtual currencies and opened Free Economic Zones that provide tax and energy benefits for economic agents that will open mining enterprises.