Cryptocurrency specialists have come together to create a standard that will improve the overall efficiency of Mining. The focus is on the energy consumption of starting digital currencies. Policies and procedures are vital to extending the amount of time expensive computing equipment operates at optimal load, leading to increased profitability.
Several groups will participate in releasing the standard in February next year. These groups include members of the Russian Association of Crypto Industry and Blockchain (RACIB), the cryptocurrency sector, and other related industries.in addition, Members of the Russian crypto agency Bits will also participate.
The decision to set up the working group was announced at a cryptocurrency summit in Moscow, with representatives of RACIB, operator of the mining data center Vekus Mining Development, and Yuri, head of the Russian Institute for Sustainable Development. It was announced in a presentation by Mr. Kudryashov have remained under construction.
The forum’s primary purpose was to discuss the development of the digital environment and digital financial assets in general. Participants discussed the upcoming legalization of Mining in Russia and other activities related to blockchain and cryptocurrencies, the launch of central bank digital currencies, and the spread of tokenization. The summit also focused on education and security issues.
Russian Crypto Miners Brace for Sanctions
Russian crypto miners have so far escaped war in Ukraine, but sanctions could soon indirectly pressure their businesses. Last August, Russia was the world’s third-largest Bitcoin (BTC) mining country, behind the United States and Kazakhstan. The mines are mainly in remote Siberian areas, some as far as 3,700 miles from Kyiv. The region experiences no severe disruption to operations. Earlier this year in Kazakhstan, another former Soviet state, civil unrest cut off the internet and disrupted crypto mining activity for several days.
Mining in Russia Sergey Arestov, co-founder of his hosting company BitCluster, says,
“… Mining remains a sustainable business in Russia despite the dispute. He pointed to relatively cheap supplies of energy and building materials and a weak ruble Mining became even more profitable.”
According to Arestov, Bitcoin became more valuable in rubles due to the collapse of the local currency.
Benefits of Participating in MiningWorld Russia
MiningWorld Russia is the leading international exhibition of mining machines in Russia. It possesses the necessary equipment for Mining, processing, and transportation of minerals in Russia. The 27th MiningWorld Russia will be held from 25-27 April 2023 at Crocus Expo, Pavilion 1, Moscow, Russia.
MiningWorld Russia is the ideal platform for equipment and technology manufacturers across the mining industry to showcase their expertise, products, and services to end-buyers of Russian mining companies, mineral processors, and wholesalers.
Reasons to Exhibit at MiningWorld Russia
Taking part in Russia MiningWorld is essential because mining equipment affects cryptocurrency mining. It involves investment and investors too. There are several reasons to exhibit at MiningWorld Russia,
- Access to the entire Russian market: 5,478 visitors from 21 countries and 65 Russian regions
- Quality Audience: He 71% of viewers and decision-makers
- Great ROI potential: 45% of our visitors represent businesses with purchase budgets greater than $800,000*
- MiningWorld Russia 2021 Stats:
- 187 exhibitors from 18 countries
- 5,478 visitors came from 21 countries and 65 Russian regions
- 8,000 square meters of exhibition space
- 12 business programming events with over 100 speakers and over 2,000 attendees.
The event is important because mining equipment affects cryptocurrency mining. It also shows there is an increase in cryptocurrency adoption.