The revenue from bitcoin mining in Russia has increased 18 times between 2017 and 2021, according to a new report by computing hardware distributer Intelion Data Systems, quoted by RBC Crypto. During the period, the total grew from 7 billion rubles in first studied year (below $114 million, at current exchange rates) to 128 billion rubles in the last (over $2 billion).
According to the research, in the past eight months the bitcoin mining revenue has dropped to just over 57 billion rubles ($929 million), despite a fairly confident start to 2022. The second quarter of the year is actually considered by experts to be the worst in over a decade of observation.
Bitcoin mining revenue in Russia grew 18 times in 4 years before “worst quarter”Read More
Topics:
Blockchain, Cryptocurrencies, Data & Reports, Fintech
