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Is there even much mining in Russia? My understanding is the overwhelming majority of bitcoin mining is in China.
by ForHackernews 8y ago
Is there even much mining in Russia? My understanding is the overwhelming majority of bitcoin mining is in China.
- wongarsu 8y agoMining is mostly a game of getting cheap electricity, and it's hard to beat China (where infrastructure construction is often about creating jobs and projecting power instead of classic profitability). It seems like electricity prices in Russia are similar to the US. The legal position of bitcoin seems to be worse in Russia though, so you would expect less mining than in the US, and a lot less than in China.