BitRiver: Russia catches up with the United States on the speed of mining development – Bits Media

By the end of the first half of the year 2023 year Russia shows almost the same growth rate of cryptocurrency mining, Like the USA. This was stated by the General Director and Founder of Bitriver Igor Runets.

The volume of electricity, consumed by miners in the USA, exceeded 4 GW, and in Russia is at the level of about 2 GW. The Russian industry is rapidly catching up with the American, draw a conclusion in the company. The trend is associated with the development of mining in the Russian Federation and a decrease in activity in the United States.

“Last year, the American mining market showed significantly higher growth rates, than Russian. Now we are fixing at least the alignment of these indicators and a tremendous increase in demand for cryptocurrency mining in Russia ", - claims the businessman.

Russian mining industry, According to the speaker, "Is at the point of the fracture". In the coming years, it is expected to continue the growth of the global mining market of cryptocurrencies with a high pace:

"Maybe, By the end 2023 years can be discussed about the focus of the growth rate of the American market ".

FROM 2023 The demand for mining services in Russia from China is growing years, They said in the company.

"Key jurisdiction for Chinese miners, posting new orders, Russia becomes, not the USA ", - claims Bitriver general director.

Meanwhile, the head of the State Duma Committee on Financial Markets Anatoly Aksakov said, that cryptocurrency mining in Russia can become legal not earlier 2024 of the year. Laws wanted to adopt earlier, But they postponed the administrative and criminal liability in the field of mining and cryptocurrencies before considering bills of administrative and criminal liability. Miners can force them to report on their income in the tax. For refusal, the terms of up to four years in prison may be provided for.