Russia took second place in mining

Russia climbed to second place in the world in cryptocurrency mining: now our country is second only to the United States, Kommersant reports.

As BitRiver reports, according to the results of the first quarter of this year the volume of capacity used in mining reached 1 GW in Russia. In the USA this figure is 3-4 GW.

Interestingly, at the end of 2021, Kazakhstan in terms of Bitcoin production capacity was ahead of Russia. However, last year the authorities of Kazakhstan introduced limitations of mining activities. In China, problems in the industry arose due to power shortages.

“Russia can maintain a high share in the mining market, especially if there are no problems with regulation, – said economist Dmitry Afanasyev. – At the moment, there is no legal framework for the industry, while there are many who want to make money in this way, since real incomes of population are not growing. In addition, relatively cheap electricity contributes the development of mining.”

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