Russia Seizes Bitcoin Mining Equipment in Incident at China Border
Russian authorities confiscated four bitcoin mining machines from an unidentified citizen last week at a security checkpoint located on its southern border with China. A report from the Siberian Customs Department suggests that the individual attempted to bring "four undeclared metal objects", later identified as ROCKMINER R4 units, through a customs checkpoint at the Manzhouli Sino-Russian Inter-Trade Tourist Area. However, the bitcoin miner failed to provide the necessary documentation or pay required fees for doing so. The customs officers evoked a 2012 decision issued by the Board of....
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Armed robbers have plundered a large crypto mining facility not far from the Russian capital, local media reported. The unidentified perpetrators stole dozens of video cards in the latest incident involving theft of coin minting hardware, which has been on the rise in Russia.
Unknown Attackers Steal Mining Equipment From Crypto Farm in Russia
A crypto mining farm in the village of Kuchino, near the city of Domodedovo in Moscow Oblast, has been raided by thieves, the Russian crypto news outlet Bits.media reported on Wednesday. The mining facility was located in a warehouse owned....
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills.
Supply Exceeds Demand on Russian Market for Mining Chips
Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban....
Big moves are happening within the bitcoin mining industry in Russia. An unnamed miner sent what seems to be the largest single batch of mining equipment to the country. Delivery Took Place at the End of 2020 According to Kommersant, the unknown miner shipped almost 20,000 devices on 14 trucks, which have a total power capacity of 70 megawatts. The media outlet’s estimations show that the hardware shipped from Asia is worth approx. between $40 million and $60 million. The Bitriver-powered data center is located in Irkutsk, the largest city of Irkutsk, in the Siberian Federal....
The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass Hopes to Sell 12 MW of Bitcoin Mining Capacity in Russia to Pay Clients According to Compass Mining’s CEO Whit Gibbs, the firm is selling $30 million in mining equipment that is currently located in Siberia.....
The market for crypto mining equipment in Russia has seen strong interest from buyers of both new and used devices, retail data indicates. This year, demand for application-specific integrated circuit (ASIC) machines has multiplied exponentially while video cards have been in short supply leading to rising prices. Crypto Miners in Russia Looking to Increase Computing Power Online retailers have registered a surging demand for mining machines, brand new and second hand, the Russian business daily Kommersant reported. Searches for devices designed to mine bitcoin (BTC), or ASICs, on the....