The global market meltdown has indirectly benefited Russia's bitcoin miners, even as the cryptocurrency's price tumbled along with other assets.
“Dollar exchange rate does not affect the price of electricity. Salaries and other costs don’t rise that fast either,” said Zakhar Fedorov, the business development manager at Cryptoreactor, another mining farm in Bratsk. However, his farm hasn’t seen an inflow of new clients from abroad yet.
“We do have requests from the foreign miners, but no more than usual. Due to the bitcoin price crash and the hysteria around coronavirus, in such a situation many prefer to sit on cash,” Fedorov added.
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