According to the Cambridge Center for Alternative Finance, Russia ranked second in the world for the first time in terms of electricity use for Bitcoin mining in the first quarter of this year with an installed capacity of 1 GW. The United States still ranks first in the world with 3-4 GW of mining capacity.

The top 10 also includes the Gulf countries (700 MW), Canada (400 MW), Malaysia (300 MW), Argentina (135 MW), Iceland (120 MW), Paraguay (100-125 MW), Kazakhstan (100 MW) and Ireland (90 MW). BitRiver experts said that this is related to the restrictions on mining activities in Kazakhstan last year. In addition to low electricity costs, Russia also has a cold climate that is conducive to mining. (Kommersant)