Russian Crypto Miners Brace for Sanctions Fallout Amid Ukraine Conflict

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Russian Crypto Miners Brace for Sanctions Fallout Amid Ukraine Conflict
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Crypto miners in Russia have so far been unscathed by the conflict in Ukraine, but sanctions could soon indirectly squeeze their business. egreechee reports

“We definitely will not see any investments in new sites or hosting for bitcoin mining in the region from anyone outside Russia,” Rusinovich said. That once again raises concern over the centralization of the network and the ever-diminishing range of options for geographic diversification of computing power, he said.At least two Europe-based miners interviewed by CoinDesk have abandoned plans to expand operations in Russia.

Switzerland-based BitRiver, which is one of the largest mining players in Russia, declined to comment for this story. Rusinovich predicted a rise in tariffs for air shipments of hardware, now that Russian airline carriers have banned European airlines from flying into Russia.

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