July 20, 2024

Copy-paste | Cryptocurrency mining market takes a second wind

A new wave of cryptocurrency growth has breathed life into the mining market, which is developing in various cornersof the globe.

In pursuit of maximum profitability of itsactivities, miners continue to look for regions with the most suitable and least costly conditions. In this context, popular locations include the northern regions of Russia, which are attractive due to their low temperatures and cheap electricity.


Moreover, the undisputed leader in thisChina remains, where industry giants such as Bitmain and Ebang are active. Moreover, now mining in the Middle Kingdom will develop even faster, with the filing of the authorities. As it became known today, the National Development and Reform Commission of China (NDRC) has published an updated list of industries that are recommended for development or suppression. As part of this document, the government excluded the extraction of digital tokens from the so-called list of undesirable activities. Earlier, the commission believed that mining impeded the development of the country.


Georgia, meanwhile, is third in the world.by the ratio of the number of miners to the population. Today, about 10% of citizens are engaged in cryptocurrency mining in the former CIS country, but mainly as an additional activity. Accordingly, mining in the country is mainly amateur. In this case, the growth in token mining activity is largely due to the high level of unemployment in Georgia, as well as the cheapness of electricity due to the presence of two dozen existing hydroelectric power stations.

Continued on the website: https://beincrypto.ru