At the moment, Russia is on par with the United States in terms of the share of mining capacities in the total electricity production, Yevgenia Burova, director of communications at the Garantex cryptocurrency exchange, told bitcoinlinux on April 7. At the same time, she noted that electricity in the United States of America is generated 3.5-4 times more.
“At the same time, in Russia there is now a great need for import substitution, which means redirecting energy resources for the needs of industrial production. In turn, the development of regulation of the cryptocurrency industry and the potential use of cryptocurrencies in cross-border payments could also stimulate production,” the expert added.
Burova clarified that mining in the Russian Federation has ambivalent prospects so far.
“On the one hand, the development of industry requires its limitation, and on the other hand, mining can also contribute to the development of industry,” she explained.
At the same time, the expert drew attention to the fact that thousands of employees of industrial enterprises are being laid off in the United States. According to her, as a result, additional capacities can be released and at the same time the number of independent miners will increase.
Earlier in the day newspaper “Kommersant”, referring to BitRiver, wrote that according to the results of January-March, the Russian Federation for the first time came in second place in the world in terms of the amount of power involved in mining (1 GW), the United States was in first place (3-4 GW). The top 10 also includes the Gulf countries (700 MW), Canada (400 MW), Malaysia (300 MW), Argentina (135 MW), Iceland (120 MW), Paraguay (100–125 MW), Kazakhstan (100 MW) and Ireland (90 MW).
On March 9, it was reported that, as Anatoly Aksakov, head of the State Duma committee on the financial market, told bitcoinlinux, a bill on mining and cross-border transactions with cryptocurrencies would be adopted in the first half of 2023. The regulation will take effect from July. As Aksakov explained, the bill, which involves the legalization of the mining of cryptocurrencies and the declaration of income from this activity, will prescribe liability for non-compliance with it.
