Sales of mining equipment increased several times in November

According to mining data center operator BitRiver, in the fourth quarter of 2024, demand for large wholesale orders of IT equipment from Russian and foreign private and institutional clients approximately doubled compared to the third quarter.

A publication source from another mining company stated that demand for this type of equipment has tripled. According to the interlocutor, in the second and early third quarter customers ordered approximately 30 devices per week, in September this figure increased to 200 and in November to 600.

The growing demand for computer equipment is always observed against the background of rising cryptocurrency prices, experts interviewed by Kommersant noted. The Bitcoin rally began in November, and on the 10th of this month its value exceeded $80,000, adding more than 17%. On November 22, the price of the token approached $100,000.

In addition, sales of mining equipment are affected by “clearer and more understandable legal regulation” of cryptocurrencies, experts noted. Legal mining became available in Russia on November 1 thanks to the relevant law, which Vladimir Putin signed in August.

Previously, the government energy commission supported limiting the production of cryptocurrencies in several Russian regions where there is a “complicated regime and equilibrium situation in the electric power industry.” The ban is planned to be introduced during the heating season until 2031 in the Irkutsk, Kherson and Zaporozhye regions, as well as other territories.