Russia Heavily Investing Into Bitcoin

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The Russian government, and by extension the Russian crypto mining scene, have both jointly started a state wide advance, that is aimed at increasing the extent of the national bitcoin/crypto mining sector. Regardless, China still towers over other countries, and holds a respectably sizable chunk of the pool-based mining market. Further decentralization could prove to be highly beneficial for the worldwide crypto community as a whole, not to mention that Russia has a huge comparative advantage when it comes to the price of electricity alone.

Although, according to eobots global GHS distribution, Russians have been mining for quite some time, and are already participating with close to 3 billion giga hashes per second. The country also has a rather large fintech industry that includes companies such as QIWI, Lifepay, Double Data, and so on. Either way, this will probably affect the bitcoin price to a degree, especially when we factor in the ensuing and future mainstream media coverage.

The Russian Miner Coin ICO is particularly interesting, since it appears to have a strong backing by Dmitry Marinichev, a present adviser to Russian President Vladimir Putin. Investors will be able to send either bitcoin or ethereum in exchange for RMC tokens, and by holding these assets, will incur 18 percent of all mining related revenues. When we have gathered more info, we will add RMC to our ICO calendar and list.