Increasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim.
Russia May Attract Half of Kazakhstan’s Cryptocurrency Miners
The Russian Federation has a chance to increase its leadership in the field of crypto mining, against the backdrop of negative developments for the industry elsewhere. According to specialists from Intelion Data Systems, a major Russian importer and distributor of mining hardware, the country’s share in the Bitcoin hashrate can potentially reach 18%.
As of January 2022, Russia accounted for nearly 4.7% of the global hashrate, according to calculations by the Cambridge Center for Alternative Finance, ranking fifth among major mining destinations. However, the toughening of policies towards the sector in the leading countri
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