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Russian miners begin to massively sell equipment

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Russian miners begin to massively sell equipment

Russian miners begin to massively sell equipment
CONTENT

  • Miners get rid of hardware

  • How much is a ready-made set for mining cryptocurrency

  • Russia can become an oasis for cryptominers

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Recently, the Russian private classifieds website Avito has increased the number of announcements for the sale of mining equipment and entire farms. Now the site contains over 2,800 offers for the sale of ASICs or video cards for mining ETH and other altcoins. Why domestic miners began to get rid of equipment?

Russian miners begin to massively sell equipment

Crisis or innovation?

 

After the third halving of bitcoin, the requirements for cryptocurrency mining have changed dramatically. The equipment that was used by miners before this event can no longer work effectively under the changed conditions. Therefore, miners are trying to sell it in order to buy new computing equipment. The prices for used equipment are different: from 349 thousand rubles for a set of mining equipment with a container to 2 million for a finished mini-mining farm. The price of one ASIC ranges from 40 thousand to 70 thousand rubles.

Many experts linked this sale to the financial crisis and the desire of miners to get at least some money for mining equipment. But the CEO of Vatum, Arseniy Grusha, is sure that the problem is completely different..

“After the halving, companies that use old equipment and are not ready to upgrade will leave the market. All hardware released before 2019 is no longer suitable for industrial mining. Most often it is sold to third world countries, and a new generation ASIC is installed. It’s like with cars. Developed countries buy new brands of cars and used cars are shipped to developing countries. So it is with mining. We sell old equipment to Venezuela, Russia, Kazakhstan and a number of other countries, ”he said in an exclusive interview for BeInCRypto.

It is likely that now Russian miners are selling old equipment in order to purchase used equipment from America and China. In addition, as Arseniy Grusha assures, retail miners who were engaged in home mining will leave the market. As he commented earlier, a decrease in the reward for mining blocks will lead to the fact that small miners will leave the market, as Bitcoin mining will become unprofitable for them. The competition between mining farms and pools will increase, and mining itself, as an industry, will cease to be home or amateur, but will become industrial.

Does mining have a future in Russia??

 

Russian miners begin to massively sell equipment

According to the TokenInsight report, a record number of miners are registered in Russia – about 140,000 people. By this indicator, Russia has overtaken China: there are slightly less than 84,000 miners, Ukraine – 56,000 miners, the USA – about 45,000 miners, and Venezuela – about 30,000 miners. This means that Russia is a priority region for mining, and in 2020, after the halving of bitcoin, the number of miners is likely to increase..

At the moment, there are all the prerequisites for Russia to become a leader in mining. Today there are several large mining farms in the country. The first large data center that provides industrial facilities for the mining of cryptocurrencies by miners is the BitRiver data center, which is located in the city of Bratsk on the territory of an aluminum plant. The data center positions itself as the largest platform for mining cryptocurrencies in the CIS, and the total capacity of the equipment is 30 MW. It mines cryptocurrencies such as bitcoin (95%) and altcoins LTC and zcash (5%).

BitRiver can only compete with the recently opened data center owned by Rosenergoatom, which plans to create several platforms for industrial mining at once and lease areas and equipment for mining cryptocurrencies.

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