The Growth Rate of Russia’s Mining Industry Has Surpassed That of the United States

Since September 1, 2024, when Russia officially passed a series of bills encouraging cryptocurrency mining and trading, the growth rate of the mining industry within Russia has been rapid. Igor Runets, the owner and CEO of Bitriver, stated that due to the legal advantages provided by Russia, the growth rate of domestic cryptocurrency mining has long surpassed that of the United States, and the strength of the entire mining industry may reach parity with the United States within two years.

As Russian President Putin has said, Russia has a significant environmental and energy advantage, making it highly suitable for mining. Especially in the vast and cold Siberia, where energy is abundant, if the current mining consumption in Russia exceeds 2.5 gigawatts, then in the United States it exceeds 7 gigawatts. Within two to three years, thanks to their own power generation capabilities and the utilization of associated petroleum gas, Russian miners are likely to become the global leaders in cryptocurrency mining.

For miners in Russia, taking the cold Irkutsk as an example, the region’s massive hydropower could theoretically support 20% of global Bitcoin mining, and the price of this hydropower is only 1-3 cents per kilowatt-hour. If we take the ANTMINER S19j xp 151T as an example, assuming an electricity cost of 2 cents, and calculating based on the current coin price of $67,000, daily mining yields about 0.00010872 BTC. After deducting the cost of electricity, the passive income is approximately $5.7, with a shutdown coin price as low as around $15,400. The cost of the machine can be recouped in just about 250 days!

If you are planning for the upcoming BTC bull market in places like Russia, where the cost of electricity is very low, consider purchasing high-cost-performance mining machines like the ANTMINER s19j xp 151T  and WHATSMINER M50 from us, a reliable global supplier! If you are still unsure about how to choose, please contact our Russian commissioner. We have a large inventory and can recommend the most suitable mining solution for you, with fast shipping.

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!