The Comprehensive capability of crypto mining services in Russia According to a survey of major operators, the past 12 months saw a growth, despite market downturns and sanctions. The primary drivers of this trend were the high prices of mining equipment and the interest shown by local customers.
Miners Prepare For Expansion As Total Crypto Farm Capacity In Russia Reaches 500 MW
The Capacity According to the results of a survey by established industry players, mining farms have surpassed 500 megawatts (MW). This is according to the 2022 ceiling. Kommersant Daily, business. They will be able to continue growth with the start of 2023 units, against the backdrop of a cryptocurrency market recovery. However, expansion could be limited by electricity costs and taxes for miners.
BitriverThe group has eight crypto mining sites with a combined score of 300 MW. The services are operated with energy Ural Mining Company (UMC) = 88 MW Bitcluster EMCD has three 60-megawatt farms. BWCUG, on the other hand, has a 20 MW facility. EMCD maintains 50 MW of data centers in four different locations.
With Plenty of energy sources and cool climate. Russian Federation There are many advantages to being a mining destination. HoweverThe ongoing standoff with the West The conflict is in Ukraine Sanctions have been imposed on the industry, making it difficult. Russia’s The mining potential of the cryptocurrency market could be limited to avoid financial restrictions.
But Both the state of crypto financial system and the sanctions have had very different impacts on the business of Russian Companies that mine. BitriverThe US sanctions had a particular effect on the country. However, it has increased its information capabilities and out-of-reach capability by more than doubling them. This allowed the company to finish large-scale projects. Russian Areas, its founder Igor Runets It is advised Kommersant.
MeanwhileBWCUG has reduced its mining capabilities. The firm is what we call “new” European North American The customers are hesitant to use the Russian Services, despite decreasing prices The Operator also highlighted the uncertain prospects for crypto mining through laws. A mining bill. Russia In 1996, it was submitted to parliament November However, it is still to be adopted.
Alisa TsukanovaEMCD’s marketing director, Jeremy Davidson, stated that the profitability of the mining company could drop if the government introduced electricity tariffs and taxes specific to minting firms. Speaking To the Izvestia Newspaper, Chairman The State Duma Committee The following are the Financial Market, Anatoly AksakovHe spoke of two options. One, a levy similar to the one tax on imputed income, with a charge between seven.5 and 15%, or tax earnings of 20%.
The Survey was created after an in-depth research. October In the 12 months to come, bitcoin mining has brought in an estimated $1.2 billion in revenue Russia The number of people living in the region grew by 18 percent over 4 years before dropping sharply during the second quarter. Other Analyses printed in August It was established that Russian Since 2017, miners’ electricity consumption has risen 20 times.
Do You think Russia’s Despite any challenges, the crypto mining industry will continue to grow. Share Please include your comments in the section below.
