Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills.
Supply Exceeds Demand on Russian Market for Mining Chips
Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban on operations with cryptocurrencies, including mining, citing threats to financial stability and risks for investors.
A major online platform has recently told the business news portal RBC that the number of ads for the sale of coin minting equipment has increased in January while demand decreased. A drop in the purchases of video cards was also registered by Marvel Distribution, one of Russia’s leading retailers o
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