Russia’s best regions for cryptocurrency mining were named

They became Moscow, the Moscow Region, Karelia, Buryatia, as well as the Sverdlovsk, Murmansk, and Irkutsk Regions, the Krasnoyarsk Territory, and the Republic of Khakassia

27.07.2022 - 06:45

501

2 min

What’s new? According to Intelion Data Systems, an importer of cryptocurrency mining equipment, the most popular regions for mining in Russia in 2021 were Moscow, the Moscow region, Karelia, Buryatia, as well as the Sverdlovsk, Murmansk, and Irkutsk regions, the Krasnoyarsk region and the Republic of Khakassia. In the first four regions, the volume of energy consumption exceeded the volume of its generation. According to RBC with reference to the company’s press release, experts believe that Russia has all the necessary conditions for the placement of rigs, including low prices for electricity and developed energy infrastructure.

RBC’s material

What else did the company add? In Moscow and the Moscow region, the difference between electricity consumption and generation was 40 735 million kWh. Timofey Semenov, CEO of Intelion Data Systems, noted that while choosing a location for mining equipment placement one should be guided by several criteria: this is the already mentioned low cost of electricity, as well as a surplus of its generating capacity.

Regions that currently fit all the parameters have become the Irkutsk, Sverdlovsk, and Murmansk regions, as well as the Republic of Khakassia and the Krasnoyarsk Territory. They also have spare capacity reserves.

According to experts, such a situation in Russia may contribute to the development of its IT infrastructure, the emergence of new jobs, and additional tax revenues in regions.

Earlier it was reported that the Russian power grid operator Rosseti Centr would start using heat maps to detect mining farms. The organization submitted a corresponding tender with a starting price of 540 000 Russian rubles. The contractor is obliged to provide quarterly reports, including information on the estimated location of mining farms with an accuracy of 100 meters.

Author: