Experts: This Is Why Russia Is Becoming a ‘Crypto Mining Hotspot’ Experts have explained
why Russia is reportedly becoming a crypto mining hotspot, as the nation claims its crypto mining hashrate is second only
to that of the USA.
Per Finam,
Nikita Zuborev, a Senior Analyst at the domestic crypto platform BestChange,
said:
“There are many advantages of mining crypto in Russia. These include relatively low electricity tariffs. Even in Central Russia, prices are competitive relative to the rest of the world. But if we talk about regions with even lower tariffs, such as the Irkutsk and Krasnoyarsk regions, Khakassia, and Dagestan, then the benefits are much higher.”
Zuborev added that some regions of the nation
had surplus energy reserves that could be made available to miners on “favorable terms.”
The expert also said that
“relatively” low taxes on company profits
were also attractive for many mining firms.
