Hello dear and regular readers, definitely the war between Russia and Ukraine continues to give news that impact the normal development of the cryptocurrency market, this if we consider that Bitcoin miners will pay more for electricity consumption in Russia.
In addition to the air and ground attacks on Ukrainian territory, the war is also about tariffs for increased electricity consumption on Russian territory, since, according to government sources, Russian citizens will pay high tariffs for mining cryptocurrencies.
In theory these tariffs will be determined by the authorities of each region of the Russian territory, as apparently digital mining is one of the activities that overload the power grid in Russia.
According to information reported by international news agencies with connections in Russia, miners of Bitcoin and other cryptocurrencies that carry out their activities on Russian territory will have to pay a higher rate for the electricity they consume.
The above, or rather the measure was determined by the Federal Antimonopoly Service of the Russian government, a government agency in charge of supervising the prices of electricity used by citizens in Russia.
It is necessary to remember that before the war with Ukraine Russia was already occupying the second place in the ranking of European countries with the cheapest electricity for the population, the leader being Kazakhstan, due to this, both countries now concentrate more mining power or hashrate of the Bitcoin network than in previous years as more digital miners are located in their territories.
Therefore, the new measure of charging more tariffs may impact the normal operation of cryptocurrency mining, specifically Bitcoin mining, I would like to know your appreciation in this regard.
SOURCES CONSULTED
RG You will have to pay more for overconsumption of electricity. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: RG
