How Intrest Of People Is Going In Cryptocurrency Mining All Around The World

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This news closely followed the recent announcement from Russian Miner Coin (RMC) which plans to raise $100 million worth of cryptocurrency and start a large-scale bitcoin mining operation to compete with China. RMC is a company co-owned by one of Vladimir Putin’s advisors, internet ombudsman Dmitry Marinichev, who said that “Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.”

Ethereum Foundation supervisory board member Vladislav Martynov explained that “the growing interest in mining in Russia is due to the fact that there is an excess of electricity in the country and it is cheap enough.”

RMC’s presentation shows that “Russia has 20 gigawatts of excess power capacity, with consumer electricity prices as low as 80 kopeks (1.3 cents) per kilowatt hour, which is less than in China,” Fortune described.

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