Russian spending on mining hardware climbs 51%

Computer components used for mining cryptocurrencies have risen markedly in price over the year, according to data from analysts Checkindex.ru.

Researchers compared the average spending per purchase for mining hardware in Q1 2020 and Q1 2021. Graphics cards rose the most, by 113%.

In total, expenditures on the “minimal mining kit” in Q1 2021 amounted to 69,792 rubles, according to the analysts. This is 51% higher than last year.

Sales volume in monetary terms rose by 37% year over year.

In March, Bitcoin miners earned $1.75 billion, a record monthly revenue.

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