Within the space of crypto mining Russia can be seen as a major player. Field experts have done research that names what the most popular destinations are, for operations related to crypto mining. Moscow is listed as one of the more attractive regions crypto miners could look to, alongside several others. They offer power that is cheap as well, making these destinations all that more attractive.
How Russian Miners Look For Crypto Farms
Russia had all the necessary things in order to emerge as a leader in the industry of crypto mining. They can provide cheap electricity, and can also provide extra generating capacity. Many of the regions in the country have energy infrastructures that are well developed. In addition to this, crypto miners also look for logistical advantages, when determining which regions to set up their crypto farms in.
The regions crypto miners could look 5o include Irkutsk, Murmansk, Sverdlovsk, the Krasnoyarsk Territory, as well as the Republic of Khakassia. The amount of energy that is generated here is sufficient to meet the current demands of crypto miners. They can also connect more consumers without worrying about their distribution networks being overloaded.
Bitcoin mining is as of yet, an activity related to crypto that is not yet regulated in Russia. There are many officials in the government that feel that crypto mining should be seen as an industrial activity. It should also be taxed as per that. It should also be noted that the mining sector in Russia has been affected by the sanctions imposed by US over the Ukraine War.