Bitcoin mining-focused media company HASHR8 has published the first report in its “Bitcoin Mining Index,” a planned series on the world’s major mining regions detailing how practice is taking shape and where global opportunities are emerging.
“Bitcoin mining is truly a global game,” Whit Gibbs, CEO of HASHR8, told Bitcoin Magazine. “Every country has its own advantages and disadvantages for mining. We focus on the country-level distinction as much of this information is opaque, including regulations, business practices, climate and of course electricity prices. “
The series started with HASHR8’s report on Russia, which, like the upcoming reports on other regions around the world, looks at electricity costs, energy mix, regulatory environment and investments associated with Bitcoin mining in the country.
“Russia is one of the world’s leading providers of hash rates,” says a publication by HASHR8 in its first report, which highlights the types of insights that are offered for other regions across the index. “A federal law introduced in Russia this year legitimized bitcoin mining as an official economic activity and made it clear how bitcoin miners must operate in the region. Russia’s Siberian region offers Bitcoin miners extremely competitive electricity tariffs with tariffs of $ 0.02 to $ 0.025 per kWh, which are usually backed up. “
The index is designed to help Bitcoin miners decide where to start their operations. While much of the network’s hash rate is centered on China, the decentralization of the industry is an ongoing trend. And it is more than likely that many within the Bitcoin community are curious about these regional characteristics, even if they do not necessarily plan to set up their own mining operations.
“Is a region politically stable? Are there favorable guidelines for Bitcoin and cryptocurrency? Is electricity sustainable all year round? What assurances are there that millions of dollars in mining equipment will not disappear overnight or be confiscated by the government? ”Asks for clearance. “HASHR8’s Bitcoin Mining Index examines the many questions and concerns Bitcoin miners have when considering their new location and presents the actionable insights needed to make correct decisions.”
“The State of Bitcoin Mining in Russia” is now available on the HASHR8 website. The company expects to publish subsequent reports based on how extensive the mining industry is in each region it wishes to cover.