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MAJOR MINERS MOVE TO RUSSIA AS CHINA BANS MINING

·2-min read


EQS-News / 30/11/2021 / 10:21 MSK

 

MAJOR MINERS MOVE TO RUSSIA AS CHINA BANS MINING

Moscow, Russia, 25th November

 

The largest mining companies from China are moving their equipment to other countries after the imposition of bans. Although the Celestial Empire has stable logistics with most countries, it was still not possible to move such a large amount of equipment quickly. At this moment it's not possible to evaluate the effect of this changes, and final conclusions will be made only next year.

 

However, according to the results of the move of the 14 largest crypto mining companies from China, the leader, and with a large margin, became the Russian Federation in terms of capacity intake. More than 85% of the mining devices came to Russia. Although the United States, Canada and Kazakhstan, which quickly legalized mining activities, are also popular for hosting ASIC devices, but their share in the relocated equipment is not so great. Thus, the U.S. and Kazakhstan hosted about 87,000 miners, and Canada only a little over 35,000.

 

Although such numbers are impressive, but it has not yet allowed Russia to enter the leaders in terms of share in the global bitcoin hash. Major miners are transporting their equipment to the Russian Federation, but for the placement of newly acquired devices, the preference is given to the United States and Kazakhstan. But it is already known that the largest mining sites in Russia have deployed more than a gigawatt of aggregate capacity, and negotiations are underway to install more than five gigawatts more. This is more than all of the disabled capacity in China. It is also not a secret that the governments is tightening regulation of cryptocurrencies, and if with mining in some countries, things are better than in others, then with the follow-up sale of digital assets there may be difficulties in the form of taxation, providing evidence of the origin of funds and other tricky issues. In such cases, anonymous exchange services, which are gaining in popularity, come to the rescue.

 

About the company

 

Cryptex, a 2016 cryptocurrency trading platform, provides innovative services to all types of traders. The Cryptex platform is simple to use and offers a wide range of tools for traders while maintaining anonymity. There is no requirement to verify your personal information, and there are no limits, so you can conduct any type of transaction.

 

To know more visit: https://cryptex.net



File: MAJOR MINERS MOVE TO RUSSIA AS CHINA BANS MINING

30/11/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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