Russian demand for mining equipment grows fourteenfold

Russian demand for cryptocurrency mining equipment rose markedly in 2021, according to «Ъ».

\n\n

On the Avito platform, over the year Russian interest in ASIC miners rose on average 14-fold, while supply rose 13-fold, experts note. Antminer devices were searched 11 times more often this autumn, and Whatsminer 23 times.

\n\n

During the first nine months of 2021, unit sales of cryptocurrency mining goods on Ozon also increased significantly — 13-fold. In monetary terms — nearly 14-fold.

\n\n

The average cost of equipment for creating mining farms was 117,900 rubles.

\n\n

Leading sales after Moscow and St. Petersburg were the Krasnodar Krai, Tatarstan, and the Sverdlovsk Oblast.

\n\n

The market also saw a shortage of graphics cards for mining, driving up their prices. Over the ten months of 2021, the graphics-card market grew by 129.6% in monetary terms, analysts say.

\n\n

As reported by data from the Cambridge Centre for Alternative Finance at the University of Cambridge, Russia is among the world’s leaders in the amount of computing power in the Bitcoin network.

\n\n

Follow ForkLog’s bitcoin news on our Telegram channel — crypto news, prices and analytics.