In Russia, at the end of the year, the demand for devices for mining cryptocurrency increased significantly. This is influenced by the low prices of equipment and the low cost of electricity. The supply of cheap used equipment may even increase in the future as large foreign mining companies exit the market.

Miners in Russia began to be snapped up by ASIC machines

At distributor Chilkoot, Asic’s car sales in two months of the fourth quarter exceeded volumes for the entire third quarter, and in nine months they were 65% more than in 2021. Since the beginning of this year, demand for BitRiver has also grown one and a half times, reported Kommersant.

At the same time, prices for video cards began to drop from mid-September. One of the reasons is the transition in the mining of ether (ETH) from the PoW algorithm to PoS. Previously miners bought video cards in bulk, now gamers need them first, said Roman Kaufman, co-founder of Berezka DAO and Weezi. At the same time, he emphasizes, ASICs “are gaining great popularity.”

The industrial mining market in Russia is benefiting from the current situation, says BitRiver financial analyst Vladislav Antonov. The demand for ASIC equipment in the large wholesale segment increased due to a decrease in purchase prices: they came as close as possible to the cost of production, which is the best entry point for investments, the expert explains.

According to RegBlock chief analyst Anna Avakimyan, the total market for cryptocurrency mining equipment is 3-5 billion rubles, excluding dual use of industrial computing power.


karina pardaeva

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.


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