Russia-based cryptocurrency mining company BitRiverof the Russian Federation 1 gigawattHe said it has risen to second place globally in terms of power and mining.
Russia It is the second largest country in cryptocurrency mining, while the US remains in the top spot. However, uncertain regulations in the US may change the course of the market. United States of America , with a mining capacity of 3-4 GW, ranks first, followed by Russia with 1 GW. The USA and Russia are in the first two places, while the rest of the list with 700 megawatts (MW). Gulf countries, with 400MW Canada, with 300MW Malaysia, with 135MW Argentinaand with 90MW Irelandis located.
Russia Ranks 5th in 2022
Cambridge Center for Alternative Finance At the end of 2021, Russia ranked third in cryptocurrency mining, surpassing both the United States and Kazakhstan in terms of Bitcoin mining capacity, according to the data in the report. In January 2022, the country ranked fifth.
BitRiverExperts in China attribute the positive trend in mining capacity to restrictions on mining activities due to electricity shortages in Kazakhstan and previously in China.
February 6, 2023 November-Jomart Tokayev signed a law on digital assets regulating cryptocurrency mining in Kazakhstan. The main part of the law will enter into force on April 1, 2023.
According to the report, the new legislation will provide a safe environment for mining sector participants to plan their operational and financial activities, carry out large projects, attract investment and develop relevant sectors of the Russian economy, in particular the electric power and information technology industries.
