Russia ranked second in the world in cryptocurrency mining

In the first three months of 2023, Russia has risen to second place in terms of cryptocurrency mining. This was reported by Kommersant with reference to BitRiver data.

According to the results of January-March, Russia for the first time ranked second in the world in terms of the amount of power involved in cryptocurrency mining - 1 GW.

The leader in cryptocurrency mining is still the United States of America with a capacity of 3-4 GW.

In previous years, Russia has been ranked third for a long time. According to bitriver analysts, the restrictions on cryptocurrency mining in Kazakhstan and the shortage of electricity in China have led Russia to rise in the rankings.

In the US, the situation is not happy either. It is expected that the growth of the cryptocurrency market in the country will slow down due to the abolition of tax incentives, rising electricity prices and restrictive actions of regulators.

It should be noted that only legal entities can mine cryptocurrency on solar energy in Uzbekistan. If miners connect to a single power grid, they must pay twice as much for it.