CRYPTOCURRENCY MINING GROUP
CRYPTOCURRENCY MINING GROUP:
According to available information, Russia currently has significant Bitcoin mining capacity, ranking second in the world in this field:
Russia ranked second in the world in providing Bitcoin mining power in the first quarter of 2023.
Russia is second only to the United States, which still leads the world in Bitcoin mining.
The Bitcoin mining industry in Russia has benefited from the current geopolitical conditions, including Western sanctions, making it an attractive destination for mining chain manufacturers.
Russia has the advantage of cheap energy, which is a key factor in the profitability of mining operations. Russia was forced to divert its energy flow from the European Union in 2022, resulting in a significant surplus of energy available for Bitcoin mining.
Russia is the only country expected to significantly accelerate the growth of the hash rate (computational power) provided to the blockchain network, according to Cryptocurrency Mining Group.
Although there are no precise figures for direct comparison with other countries, this information indicates that Russia has significant mining capabilities that place it in second place globally, outperforming many other countries in this field.