Bitcoin: sales of BTC miners explode in Russia


bullish on extraction – Lcrypto winter hit some miners’ finances. The bear markets seem to have rather spared the sale of mining machines in Russia, during this fourth quarter.

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Cryptocurrency mining knows no winter in Russia

According to an article by the Russian daily Kommersant, the recovery in demand for cryptocurrency mining machines in Russia increased in the fourth quarter. A decrease in the price of equipment and electricity in the country has also been noticed. Which seems to have boded well for investors.

During the first two months of the last quarter of this year, sales of Chilkoot, which is the Russian distributor of mining equipment, outperformed those of the third quarter. In addition, the company’s sales for the first nine months of this year are 65% higher than those of last year.

Another figure testifies to the increased interest in mining devices in Russia. According to Chilkoot, one-transaction hardware purchases have jumped 30% This year.

The sector thus records relatively good performances in the country. The end of the year was however marked by the collapse of FTX, which bled the crypto markets.

For Vladislav Antonovfinancial analyst within the mining farm BitRiver, the increase in these sales is explained by the fact that the price of ASIC mining machines is close to the cost of production. This price thus constitutes a good entry point for investments.

This explosion in sales of mining equipment in Russia comes a few months after the Russian authorities reached an agreement with the regulation. It will allow cryptocurrency mining to be recognized as legal in the country.

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