Bitcoin.com: In Russia, mining capacities are growing – Bits Media

Over the past year, mining capacities in the Russian Federation have grown, Despite the sanctions and decline of crypto. The main growth factors were the low cost of equipment and increased demand from Russians.

The total capacity of Russian mining farms by the end 2022 years have grown before 500 MW,
According to Bitcoin.com. Start 2023 years are associated with the gradual recovery of the market against the backdrop of growth of cryptocurrency courses, However, the growth of mining interferes with raising electricity and tax tariffs.

The market leader is Bitriver, which at the disposal is more 300 MWs of total capacity for blockchain compensation. The capacity of farms under the control of the Ural Mining Company (UMC) It is 88 MW. Bitcluster has three farms in 60 MW each. EMCD Manages Data Centers in several regions with total capacity 50 MW, and bwcug - one on 20 MW.

Russia is an attractive place for miners thanks to relatively affordable electricity and cold climate. truth, Difficulties are created by the political situation.

Western sanctions have a different effect on market players. BWCUG is faced with difficulties, caused by the reluctance of foreign customers to deal with the Russian partner, Even despite less costs. However, eg, Bitriver was able to double the number of data centers and total power, Having implemented several projects in Russian regions,
Says the founder of Bitriver Igor Runets.

The market presses the ambulance with the regulation of mining at the legislative level.

Previously, In one of the past materials, we talked about, How is the mining and cryptocurrency industry in Kazakhstan.