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A New Mining Business Base – Russia
Tuesday December 12th, 2017

2017 is the year that Bitcoin has gained a lot of attention not only from the crypto community but also from all over the world including governments and leading authorities.

Bitcoin has reached a record high valuation of $9000 per coin recently. Below are some notable statistics that shows that the demand for cryptocurrencies is continuing to grow at a rapid rate. (Bitcoin as a reference)

1.Bitcoin vs. the Cryptocurrency Market:

・16.67 million current Bitcoin supply

・More than 60% crypto market share

・$4.9 billion 24-hour trading volume


資料:11月1日時点のビットコイン統計データ

2. Bitcoin Transaction and Mining:

・12,000 transactions per hour

・99,000 amount BTC sent per hour

・0.103 BTC average transaction value

・$12.8 million mining rewards in the last 24 hours

・129 blocks mined in the last 24 hours

・326,000 Bitcoin transactions confirmed in the past 24 hours

Currently there is a tendency to attract new bitcoin mining enterprises, Russia gave the name as the location to attract the latest bitcoin fads.

Russia becomes a new mining hub

The Russian Association of Blockchain and Cryptocurrency (RACIB) has reported that they have received 40 application receipts from companies and individuals ranging from European countries and China to mine Bitcoin in Russia.

RACIB was established in August this year, with the aim to be an association that unites blockchain participants and owners, and miners together with investors of cryptocurrencies and ICOs.

Russian circumstances bring advantages for mining

According to RACIB’s report, Russia is accompanied by powerful power supply, low price electricity, it is the optimum environment for mining. Furthermore, as Russia’s long winter and cold climate, the electricity cost for the cooling system of mining equipment is low. It is attracting much attention from industry as ideal conditions for mining enterprises are in place.

An approximate calculation shows that placing several hundred miners with a capacity of 3 MW can yield 0.5 BTC per day or approximately 200,000 rubles. This is ideal!
For Russian power supply companies with the world's fourth largest electricity supply, accepting mining companies from abroad is a great opportunity to explore new markets.

Mining business creating new opportunities in Russia

Moreover, the mining company features software and video surveillance system specific to tracking the information or controlling the computer to prevent excessive work of fire and video card.

Mining of the cryptocurrency requires a lot of skills and human resources, and new business opportunities will be created for other industries.

Recently, the Russian cryptographic currency circumstances are highly incandescent. It is not only the industry participants, but also the government is about to undertake full-scale into the cryptocurrency.
In mid-October, President Putin officially announced issuance of country-dominated cryptocurrency.

Conclusion

Currently, opportunities for bitcoin to be introduced as a new mean of payment are increasing all over the world. If governments and authorities recognize bitcoin as legal financial instrument, cryptocurrency will penetrate people's lives.
The demands for bitcoin alone might not be enough, the market needs more reliable coins to facilitate payment. We, Wrapious Ltd is researching and developing reliable cryptocurrency Proteusion, it becomes a very convenient payment instrument for users of Wrappy which is the next generation SNS, and it will be expected to provide high quality services with high functionality and convenience.

References:
https://news.bitcoin.com/companies-china-eu-mine-bitcoin-russia/

https://news.bitcoin.com/bitcoin-numbers-21-statistics-reveal-growing-demand-cryptocurrency/

https://blockchain.info/wallet/#/

https://www.reddit.com/r/Bitcoin/

https://www.cryptocoinsnews.com/putins-orders-russia-will-national-cryptocurrency-cryptoruble/

ニューストップ A New Mining Business Base – Russia