Cryptocurrency mining companies in Russia reaches 75,000 mark in H1 2018

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August 2, 2018 by
Cryptocurrency mining companies in Russia reaches 75,000 mark in H1 2018

Russia has actually made the headline in the crypto world as its field is heightening. The list of the variety of businesses running in crypto mining has grown much longer this year currently.

Russia seeing the crypto boost
The country has actually currently seen a 15% rise in the variety of crypto mining business in the very first half of the present year. The Russian Association of Cryptocurrencies as well as Blockchain (RACIB) reported that the number of the crypto mining companies has actually soared to an overall of 75,000.

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As reported by, Yuri Pripachkin, the President of The Russian Organization of Cryptocurrencies and also Blockchain, said: “According to the results from the initial fifty percent of this year, the variety of mining enterprises in Russia has increased by 15%, to 75,000. The mining industry already uses 350,000 individuals. Since July 2018, Russia accounts for about 6% of the world’s mining market, which is 1% greater than a year ago, while the US as well as Canada hold the leading placements.”

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The rise in the variety of crypto individuals and owners in the nation, confirms the nation has actually taken a deep interest in electronic currencies that has actually caused the growing awareness and also expertise about cryptocurrency amongst the country’s citizens. The upward trend likewise shows that the country will potentially expand a lot more in the future when it concerns the adoption of cryptocurrencies.

A word of care for Russia
Nonetheless, the organization has also dropped a word of care, mentioning that the delay in the adoption of cryptocurrencies in the country could also refer to “a loss of investments of up to 1 trillion rubles a year”, which is around $15 million.

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