Tenfold Surge: Russian Crypto Mining Firms Scramble for Legitimacy Under New Law Russia has turned a shadowy corner of its economy into a state-sanctioned powerhouse, with over 1,000 cryptocurrency mining firms registering in 2024—a tenfold jump from just 91 at the year’s start. This seismic shift, fueled by a stringent new law, signals both a […]
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Russia’s Crypto Mining Boom: A Tenfold Surge in Registered Firms Signals a New Era Russia has stormed into the spotlight of the Bitcoin mining world with a jaw-dropping tenfold increase in registered crypto mining firms over the past six months. According to the Federal Tax Service (FTS), the number of legally operating miners has skyrocketed […]
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Russia’s impending ban on cryptocurrency mining in key regions signifies a strategic shift in managing its energy resources. Starting January 1, 2025, the ban aims to mitigate electricity shortages and financial strains due to subsidized energy costs, and will last until March 15, 2031. The crypto mining ban begins January 1, 2025, extending until March […]
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