RATE Group | Russian Miners Sell Their Equipment Amid Market Plunge
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Russian Miners Sell Their Equipment Amid Market Plunge

27 Nov Russian Miners Sell Their Equipment Amid Market Plunge

Posted at 15:25h in Bitcoin News by

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Russian Miners Sell Their Equipment Amid Market Plunge

Mining

A growing number of Russian miners are looking to sell their hardware. The recent market correction has decreased the profitability of minting digital coins, especially for enthusiasts who are mining in their homes, basements and garages.

Also read: Bitcoininfo.ru Wins Court Case Against Ban

Russian Miners Selling Used Hardware

Amateur mining used to be very popular in Russia, where electricity rates for individual consumers are pretty low. In some Russian regions prices are currently below $0.01 per kWh. The cryptocurrency market sell-off of the last few weeks, however, has squeezed the profitability of small-scale mining operations, as the value of most cryptocurrencies has decreased significantly.

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