Bitcoin

Recent studies indicate that <a href="https://ultramining.com/news/en/russia-s-energy-ministry-charges-forward-to-legalize-crypto-mining/">Russia</a> is one of the most affordable countries for Bitcoin mining, with the average cost to mine one BTC at $39,700. This is significantly lower than the current market price of Bitcoin, making mining in the country profitable. 
The low cost is due to relatively cheap <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> and a cool climate, reducing cooling expenses for equipment. Russia accounts for about 11% of the global <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a>, placing it third after the USA and <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/">China</a>. 
However, miners face regulatory risks and legal uncertainties. Authorities are discussing the introduction of special tariffs and taxes for <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>, which could affect the country's attractiveness to investors.

Russia Offers One of the World’s Lowest Bitcoin Mining Costs at $39,700 per BTC

Ultramining_Eng

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