{"id":15118,"date":"2022-12-04T03:58:21","date_gmt":"2022-12-04T03:58:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miners-in-russia-on-the-rise-sber-to-support-ethereum\/"},"modified":"2022-12-04T03:58:21","modified_gmt":"2022-12-04T03:58:21","slug":"bitcoin-miners-in-russia-on-the-rise-sber-to-support-ethereum","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miners-in-russia-on-the-rise-sber-to-support-ethereum\/","title":{"rendered":"Bitcoin Miners in Russia on the Rise; Sber to Support Ethereum"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Unlike the rest of the world, energy in Russia is cheap. This has ensured that many Bitcoin mining<\/a> machines were purchased in the last quarter of this year.<\/p>\n

In addition, Russia\u2019s largest bank, Sber, has announced support for Ethereum and MetaMask on its own blockchain.<\/p>\n

Unphased by declining BTC<\/h2>\n

The Russian newspaper Kommersant reported that sales of Bitcoin<\/a> miners rose rapidly in the fourth quarter, strangely enough, demand is rising despite the fact that Bitcoin\u2019s price has fallen in the same period even in Russian rubles.<\/p>\n

The increasing sales of Bitcoin miners are due to the fact that the equipment is cheap, electricity prices are low, but also because legislation is favorable.<\/p>\n

A good year for Russian BTC mining<\/h2>\n

Chilkoot is one of the official distributors of crypto mining rigs in Russia, and they say the first two months of the fourth quarter sold more than the entire third quarter of this year. During the first nine months of 2022, turnover was 65% higher than the whole of 2021. They expect this to be partly because miner prices fell by almost 20% in August and October.<\/p>\n

Amidst miners worldwide having to sell their Bitcoins to stay financially healthy, Didar Bekbauov, founder of Xive, thinks Russian Bitcoin miners should get more recognition and said:<\/p>\n

\u201cHashrate growth came from Russia. Cheap electricity for households and businesses in some regions, cheap ASIC prices, sanctions, fewer investment opportunities, high-tech qualification of people made bitcoin mining a very attractive industry in Russia.\u201d<\/p>\n

Politically, the miners are also doing well. The Ministry of Finance and the Central Bank are encouraging crypto mining in energy-rich regions.<\/p>\n

Sber supports Ethereum and MetaMask<\/h2>\n

In other Russian news, Sber, Russia\u2019s largest bank, has announced support for Ethereum and MetaMask on its own blockchain. The announcement was made at an international meeting for blockchain business users hosted by Sber Blockchain Laboratory.<\/p>\n

The new functionality brings smart contracts and decentralized finance (DeFi) capabilities to Sber Bank\u2019s open blockchain. The idea is to enable the transfer of crypto and smart contracts between their own blockchain and Ethereum\u2019s.<\/p>\n

Sber\u2019s blockchain platform allows participants to issue tokens and create smart contracts. And integration with the bank\u2019s information systems makes it possible to pay in rubles in smart contracts,\u201d the announcement said.<\/p>\n

In 2014 Sber had already expressed its stance on crypto and Bitcoin, with its CEO German Gref saying that the crypto in Russia definitely shouldn\u2019t be banned and that it must be studied and maybe regulated properly.<\/a><\/p>\n

Sbercoin stablecoin?<\/h2>\n

Sberbank will also bring together developers, companies and other banking institutions in market research and the development of business apps. The banking company that is majority-owned by the Russian state was recently given the go-ahead to launch its proprietary stablecoin called Sbercoin. This was launched last June.<\/p>\n

In addition, Sber supports one of the most popular wallets of the moment according to the announcement: \u201cThe blockchain platform will also provide integration interaction with one of the most popular wallets called MetaMask, which will allow users to perform operations using tokens and smart contracts based on the Sber blockchain.\u201d<\/p>\n

Russia wants independent payment system<\/h2>\n

The Russian government owns 51% of the bank\u2019s shares. The announcement follows recent comments<\/a> from Russian President Putin in support of the blockchain space.<\/p>\n

At a conference organized by Sberbank, Putin hinted at the development of a global payment system based on blockchain technology and cryptocurrencies.<\/p>\n

Putin called the new blockchain-based system \u201cfree from interference by third countries,\u201d referring to sanctions against his country from the West. Sber was one of the West\u2019s biggest targets after Russia invaded neighboring Ukraine<\/a>.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Unlike the rest of the world, energy in Russia is cheap. This has ensured that many Bitcoin mining machines were purchased in the last quarter of this year. In addition, Russia\u2019s largest bank, Sber, has announced support for Ethereum and MetaMask on its own blockchain. Unphased […]<\/p>\n","protected":false},"author":5,"featured_media":15119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15118"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=15118"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/15119"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=15118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=15118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=15118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}