relocate. This shift could reshape global Bitcoin hashrate concentration and slow Russia’s crypto industry growth. Russia is expected to lose its position as the world’s second-largest Bitcoin (BTC) mining destination to China this year. Surging electricity prices above 5 rubles per kWh, a strong ruble, outdated equipment, and strict regulations and regional limits are forcing miners to relocate o
Bitcoin Mining Shift: Russia May Lose Its Global Ranking Spot to China
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Russia is expected to lose its second-place ranking in global Bitcoin hashrate this year to China. High electricity prices above 5 RUB/kWh, a strong ruble, and outdated equipment are driving miners to relocate. This shift could reshape global Bitcoin hashrate concentration and slow Russia’s crypto industry growth. Russia is expected to lose its position as the world’s second-largest Bitcoin (BTC) mining destination to China this year. Surging electricity prices above 5 rubles per kWh, a strong ruble, outdated equipment, and strict regulations and regional limits are forcing miners to relocate operations. Russia is Set to Lose Its Bitcoin Hashrate Ranking According to sources , Russia is expected to lose its position as the world’s second-largest Bitcoin mining hub, after the United States, to China, which currently ranks third, despite still holding the s… Read The Full Article Bitcoin Mining Shift: Russia May Lose Its Global Ranking Spot to China On Coin Edition .