🟩 Russia - 2nd Most Powerful BTC Miner in the World!

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Russia On The Race To Dominate Hash-wars?

Russia is now the second-biggest player in the Bitcoin mining game! According to Bitriver, Russia generated a whopping one gigawatt of mining power during the first quarter of 2023. That's some serious computing power! The USA is still king of the hill, churning out a mega 3-4 GW mining capacity. Meanwhile, the Gulf countries come in third, with a combined power of 700 MW. Canada, Malaysia, Argentina, Iceland, Paraguay, Kazakhstan, and Ireland are hot on their heels, with varying degrees of mining prowess.

Russia has been climbing up the ranks in recent years, and now they've knocked Kazakhstan out of the way to claim their spot. It just goes to show that regulatory changes can make all the difference. Just ask Kazakhstan, who was sitting pretty in second place until an energy crisis hit, and they had to tighten up their rules. Miners had their power cut off, and the government introduced a new tax rate. As a result, their mining power dropped to just 6.4% of the global hash rate. Yikes!

Tweet of the Day:

Meme of the Day:

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