Due to what’s going on with #Ukraine-Russia conflict, I thought to provide some information on regards specifically to the hash-rate. #Russia share in the global #Bitcoin hashrate is significant, with estimates varying slightly across sources. As of the latest data, Russia accounts for over 11% of Bitcoin's global hashrate[2]. However, projections suggest that Russia's share could rise to as high as 18% in the near future, amounting to approximately 3.95 GW of #electricity consumption[1]. This increase in mining capacity has positioned Russia as the world's second-largest #cryptocurrency mining country, with a generating capacity of 1 gigawatt in January-March 2023[3][4]. Despite regulatory restrictions on cryptocurrency use in Russia, the country has leveraged its energy resources and cold climate to become a prominent player in the #crypto mining industry. The growth of crypto mining in Russia is attributed to factors such as utilizing associated #petroleum #gas (APG) for mining operations and attracting interest from major Russian #oil and gas companies[2].

Citations:

[1] https://news.bitcoin.com/russia-may-take-up-18-of-bitcoin-hashrate-in-next-big-migration-of-crypto-miners-experts-say/

[2] https://crypto.news/sanctioned-mining-firm-bitriver-sees-crypto-interest-surge-among-russian-oil-majors/

[3] https://www.themoscowtimes.com/2023/04/07/russia-becomes-worlds-second-largest-crypto-miner-a80749

[4] https://forkast.news/russia-2nd-biggest-bitcoin-miner-after-u-s/

[5] https://cryptonews.com/news/experts-why-russia-becoming-crypto-mining-hotspot.htm