⛏ Russia reports 15% increase in number of crypto mining companies

Thanks to its cheap electricity, Russia has become a major hub for crypto miners. According to the Russian Association of Cryptocurrencies and Blockchain (RACIB), the number of crypto mining companies has increased by 15% in H1 2018 to a total of 75,000. The mining industry already employes 350,000 people and Russia now accounts for about 6% of the world's mining market, up from 1% more than a year ago.