Russiabased crypto miners are increasingly seeking to take advantage of the low price of mining hardware. ASICis buying.
Crypto In addition to the price activity of the money market, important signals are also coming from crypto mining. Rising costs and falling crypto market crypto miners started to become a problem. Miners are looking for new ways to survive. Institutional mining companies, in particular, faced bankruptcy and liquidity problems. Compute North had come to the fore by filing for Chapter 11 bankruptcy. In the middle of these processes Russia is among the countries that show great interest in crypto mining. Miners in the country started to show more interest in mining hardware in the fourth quarter.
Russia-based Crypto Miners Chasing Hardware
According to Russia’s local news channel Kommersant, some crypto mining hardware suppliers in Russia are receiving intense interest. Hardware suppliers have observed an increase in demand for custom integrated circuit (ASIC) chips.
Also a local hardware dealer Chilkoot, Octoberand Novemberin the months ASIC reported that its sales exceeded those in the third quarter. Supplier in the last nine months, compared to 2021 65 percentmade more sales.
Chilkootdevelopment manager Artem Ereminstated that they work with legal entities and sell 30 percent more hardware than at the beginning of the year.
RussiaIncreased interest in crypto mining hardware in bitcoinThis was attributed to the decrease in prices on the side and the cheapening of hardware products.
