Demand for mining equipment falls in Russia out of fear of a possible ban, report-mining Bitcoin messages

platforms that list ads for mining hardware have been recorded since the Bank of Russia's demand for a ban on the characteristics of digital currencies, along with other crypto activities. While the mining may be legalized, the miners have to expect higher electricity invoices.

The supply exceeds the demand on the Russian Mining Chips market

MINING HARDWARE is now offered more often than searched for, Russian online marketplaces have found. The trend began after the central bank of Russia (CBR) A released Consultation papier This month Regulatory authority suggested a flat-rate ban on operations with cryptocurrencies, including mining, on threats to financial stability and risks for investors.

The offers for graphics cards rose by 12 % compared to December in January, since the demand for the GPUs decreased by 4 %, explained one of the sources for the report. The range of mining rigs rose 18 %last month, while the demand decreased by 9 %compared to the last month of 2021 asics climbed by 17 %, While the searches for specialized hardware decreased by 27%.

The shrinking demand was confirmed by a representative of another marketplace, which found that the CBR report has become a turning point in consumer behavior. Despite the currency authority to be supported Target = "_ blank" href = "https://news.bitcoin.com/tin-urges-government-central-bank-to-reach-consensus-on-crypto/" Rel = "noopener"> highlight competitive advantages of Russia as a mining destination.

In the meantime, the federal government proposed an alternative approach and relied on regulation rather than the ban on cryptocurrencies. At the end of January, deputy prime minister Dmitry Chernyshenko signed a regulation timetable for the sector that originally did not cover the crypto mining. According to a recently published report by the daily Izvestia, Tschernyschenko later instructed several responsible departments and supervisory authorities to include the mining in the document.

industry experts have expressed doubts that a ban on extraction of digital currencies is technically possible. The energy-rich Russia is one of the most important mining hotspots in the world and its meaning has increased since, since China went hard against the sector last May. Under civil servants in Moscow, the views increased