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Cryptoknowmics 2022-07-28 13:48:39

Russia’s Most Preferred Crypto Mining Locations: Moscow, Karelia, Irkutsk

According to a study that identifies the most desirable areas for minting operations in the nation, Russia may be a key participant in the crypto mining industry. Russia’s prominent crypto mining locations include Moscow, along with locations that provide the cheapest energy. Logistics and Electricity Costs Decide Locations of Crypto Farms Russia has all the necessary resources to dominate the cryptocurrency mining market, including cheap power, excess generating capacity, and well-established power infrastructure in several areas. According to Intelion Data Systems, Moscow and the Moscow Oblast, Murmansk, Karelia, Buryatia, the Sverdlovsk and Irkutsk areas, the Krasnoyarsk Territory, and the Republic of Khakassia would be the top destinations for hosting mining data centers in 2021. Electricity production in the first four regions exceeded the amount of electrical power produced locally. In the case of Moscow and the surrounding region, the initial cost of power and logistical benefits are the deciding factors for crypto miners. The experts emphasized in a news release that these factors outweigh the energy infrastructure. The data centers are built in areas where production outpaces consumption, with relatively low power costs. Bitcoin Mining According to the Cambridge Institute for Alternative Finance, since January 2022, Russia has managed around 5% of the regular monthly global hash rate, making it one of the cryptocurren...