December 8, 2023

Demand for ASIC miners has increased significantly in Russia

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Demand for ASIC miners has increased significantly in Russia

The Kommersant publication, citing distributors of mining devices, reports that in the fourth quarter of this year in Russia the demand for ASIC miners increased significantly.

More recently, it was reported that the demand forvideo cards from “home” miners has decreased significantly. However, in the market of professional equipment for cryptocurrency mining, the situation is the opposite. Thus, the distributor Chilkoot reported that sales of ASIC miners for 9 months of this year were already 65% ​​higher than in 2021. In 2 months of the fourth quarter, more mining devices were sold than in the entire third quarter.

“We work with legal entities and see that they began to buy 30% more equipment in one transaction than at the beginning of the year,” said Chilkoot development manager Artem Eremin.

As noted by the co-founder of Berezka DAO and WeeziRoman Kaufman, the situation is quite explainable by Ethereum’s transition to the Proof-of-Stake algorithm. Now miners are not interested in video accelerators, but mining cryptocurrencies using ASIC miners has attracted more attention, which is why demand has increased.

Financial analyst of a Russian mining companyBitRiver company Vladislav Antonov emphasized that the growth in demand was also facilitated by a decrease in purchase prices for mining equipment. According to him, from August to October the cost of ASIC miners decreased by 20%.

Co-founder of 51ASIC company Mikhail Brezhnevexpects that a significant amount of used mining equipment will appear on the market in the near future. He believes that many mining companies are on the brink of survival due to the market decline. The issue is especially acute for firms that were financed by customers or borrowed funds.

Let us note that in Russia there is still no clearregulation of mining activities. Recently, the State Duma received a corresponding bill, but the State Duma’s legal department criticized the document due to internal contradictions.