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Nov. 14, 2017

The Russian Association of Blockchain and Cryptocurrency (RACIB) has revealed that Krasnoyarsk region is the best location for mining, Bitcoin News reported.

The association has compared the regions by parameters such as the cost of electricity, the availability of free reserve capacities, logistics accessibility and the development of telecommunications infrastructure.

Krasnoyarsk Region, the largest territory in the Russian Federation and the second largest federal subject, spans 2,339,700 square kilometers. Its administrative center Krasnoyarsk is the third largest city in Siberia with a population of about 1 million. The cost of electricity in this region is 2.41 rubles per kW/h, which is worth about four US cents.

The association’s president, Yuri Pripachkin said: “Despite favorable conditions, almost no one is engaged in mining in the Krasnoyarsk Region. The main farms in Russia are located in Moscow, St. Petersburg, Novosibirsk, Irkutsk, Sverdlovsk, Tomsk, Chelyabinsk, and Tatarstan.”

Other locations with favorable mining conditions, according to RACIB’s research, include the cities of St. Petersburg, Nizhny Novgorod, Rostov, Samara, Sakhalin, Khanty-Mansiysk Autonomous Okrug and Tula regions.

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