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Sales of Bitcoin Mining Machines Surged Rapidly in Russia

A new report by Kommersant revealed that sales of Bitcoin mining machines in the country surged rapidly in the fourth quarter, a trend backed by a resurgence of demand, despite the chaotic price action of the crypto-asset.

The substantial increase was also spurred by cheap equipment and electricity prices. “Hashrate growth came from Russia. Cheap electricity for households and business in some regions, cheap ASIC prices, sanctions, less investments opportunities, high tech qualification of people made bitcoin mining very attractive industry in Russia.”

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