December 11, 2023

Russia will enter the top three countries for bitcoin mining

Russia will enter the top three countries for bitcoin mining

Researchers from the University of Cambridge recently published a report on the developmentmining industry.

It says that China, the USA and Kazakhstan are in the top three largest bitcoin miners. Moreover, China is rapidly losing ground due to repressions against local pools.

Russia is in fourth place in this ratinglocation. A crypto business from the Russian Federation has planned to increase its share in the BTC hashrate by attracting Chinese companies to its territory. A representative of the Russian Association of Cryptoindustry and Blockchain (RAKIB) told CoinTelegraph about this.

He also noted that in the near futurethe organization will publish a plan to strengthen computing power with the help of the energy infrastructure of the Russian Federation. To this end, RACIB will cooperate with both Chinese mining companies and power engineers from their country under the auspices of government agencies.

Russia is currently on the listmajor energy powers. It has capacities in the form of hydroelectric power plants and nuclear power plants. In addition, the country is moving towards the development of wind energy.

It is this factor that will become decisive forminers from the Middle Kingdom who are now looking for new places to work. RACIB is negotiating with a consortium of Chinese companies providing more than 25% of the bitcoin hashrate. Giant mining farms can be launched in Kalmykia, Stavropol Territory, Rostov Region, Adygea and other regions of our country.

Note that China's share in the BTC hash has already dropped below 46%, although it exceeded 75.5% in September 2019 alone.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Bybit 7.5
3 OKEx 7.1
4 Exmo 6.9
5 Huobi 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform Features– availability of additional features — futures, options, staking, etc.
  • final grade– the average number of points for all indicators determines the place in the ranking.

Russia will enter the top three countries for bitcoin mining


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