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31 July 2021

Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume – Mining Bitcoin News

Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume – Mining Bitcoin News


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Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume – Mining Bitcoin News.

An industry association representing the Russian crypto sector has launched a project to entice bitcoin miners.

The Russian Association of Crypto Industry and Blockchain (Racib) has unveiled a project to bring a larger portion of the global computing potential engaged in cryptocurrency mining to Russia.

Amid an ongoing crackdown on crypto miners in the People’s Republic, Racib hopes some of them will transfer their computing power to the Russian Federation to increase Russia’s share of the global hashrate.

By crypto mining volume, Kazakhstan is now third in the world, the data quoted by RBC (a major Russian business news portal) shows, overtaking Russia which ranks fourth with 6.8%?

Still, Russia has a chance to improve its position as Kazakhstan recently introduced a surcharge for electricity consumed by miners despite opposition from the local crypto industry.

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