Russians’ interest in cryptocurrency mining increases sharply

Industry experts report a significant rise in interest among Russian citizens in cryptocurrency mining. Despite the Bitcoin halving event in the spring, which increased the cost of mining, preferences remain unchanged. Investors are eager to pour thousands and even millions of dollars into mining. However, this sector remains largely unregulated, and the introduction of specific legislation could potentially reduce the profitability of mining in Russia.

Vladimir Astapkovich / RIA Novosti

A survey by Intelion Data Systems reveals that Russian investors maintain a strong interest in cryptocurrency mining, even after the Bitcoin halving in April 2024. Notably, 38% of respondents started investing in mining in anticipation of the event, which reduced the reward for mining virtual currency by half.

Additionally, 14% of respondents began investing in mining in 2022, when the cryptocurrency market became more accessible to the general public, and 9% started in 2017, when Bitcoin’s price first surpassed $20,000. Meanwhile, only 2% of respondents have been investing in mining for over ten years.

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