Russia has made an awaited announcement. According to the deputy Kravchenko, a new potential cryptocurrency mining center is going to be projected in the Murmansk region. It’s still an assumption!
During the Russian Investment Forum held between 15-16 February 2018 in Sochi, the deputy Kravchenko recommended to miners a perfect place to start mining. He has mentioned about Murmansk being the best place to do such activities due to the abundant electricity offered at an advantageous price.
He stated for the local media TASS that “They should go to the Kola Peninsula where there is a surplus in power generation”.
An increasing number of cryptocurrency is shown on the global market. This has influenced the number of existing mining centers. Unfortunately, besides the passive income brought by mined cryptocurrency, there are many negative consequences that investors are afraid of. These include hacker attacks, money laundering, blockchain system destruction, image theft and more.
Russians do not have strict regulation relating to the cryptocurrency mining farms- yet. Numerous Russian investors have been already involved in blockchain development. Also, they plan to launch a Russian official crypto coin, named “CryptoRuble”.
Another potential place to start mining crypto currencies is Siberia, due to low prices for energy. The plans are still unknown.
The deputy Kravchenko added in his interview that “We treat this normally. Miners go where the electricity is cheap. In my understanding, if the system stands, why not to try. ”
Russia has a huge crypto potential. They could reach the mining level of their financial competitors as China, Canada and Switzerland in a short time. However, the statement made by the deputy is just an idea- yet.