Russian miners continue to increase their capacity

Despite the fall in market quotations, the total capacity of cryptocurrency mining equipment owned by Russian miners exceeded 500 mW. 

According to media reports, BitRiver, which has fallen under sanctions, holds the leading position in this area. The volume of its capacity for cryptocurrency mining at the end of 2022 was more than 300 mW. 

“Silver” went to BitCluster. The BTC miner reached 60 mW at three of its sites. BWCUG was also in the top 3, despite falling to 20 mW. The representatives of the mining company cited the inability to conclude deals with foreign partners, even against the background of acceptable prices, as the reason for the decline. In addition, the company sees the future of mining in Russia as “foggy”. 

Recall that for several months Russia has been actively working on the adoption of a document regulating the sphere of cryptocurrencies in general and mining in particular. However, due to the inability to find a compromise between the power structures and the Central Bank, the adoption of the bill was postponed indefinitely.

Earlier, according to statements made by Anatoly Aksakov, the adoption of the law was prevented by a number of discussion participants from believing that the legalization of mining would help to withdraw funds from the country.