Coindesk: Russia buying equipment for mining against the background of sanctions – Bits Media

According to the publication Coindesk with reference to industry representatives, In Russia, a mining boom began after imposing sanctions.

Operating Director Luxor Technologies Ethan Vera (Ethan Vera) said, that now more equipment for mining comes to Russia, than any other The country of the world.

Company Cryptocurrency Mining Group (CMG) stated, that Western sanctions stimulated the sphere of mining in Russia. Cryptocurrency production has become an alternative source of income for electricity manufacturers. In addition, The process facilitates the converting of Russian rubles into bitcoins.

“Not a single sanctions package, directed against Russia, completely does not prohibit participation in the mining sector ", - claims David Carlisle (David Carlisle), Vice President for Policy and Regulation in the analytical company Elliptic.

Nonetheless, There are "significant risks" for firms, working in this sector: They cannot deal with organizations, under sanctions, including Bitriver mining company, or make payments to state banks and companies, added carlayle.

Earlier, Vedomosti publication with reference to the analytical center (Az) TEK reported, that Russian miners reduced electricity consumption by 47% in 2022 year.

Recently, the specialists of the analytical company Bitriver counted, that 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. Also s 2023 The demand for mining services in Russia from China is growing years, They said in the company.