Ukraine, Taking A Step in Crypto Mining

 In Hosting, Industry, Miners, News

Ukraine, Taking A Step in Crypto Mining

Ukraine has announced that they do not plan on regulating cryptocurrency mining as reported by cryptorussia.ru. This announcement is a huge relief to a lot of miners in Ukraine. During the period prior to this announcement, a lot of miners were concerned their operation could be fined or equipment getting seized. This announcement is a huge relief to miner hosting companies but also leads to a huge concern. With regulations not happening for crypto mining, there could be a risk of groups using mining farms to fund illegal activities as no information is required to start and run a mining farm.\

This big announcement has the rest of the worlds eye on Ukraine to see how well this idea plays out. Ukraine has been very transparent regarding cryptocurrency regulations and ideals compared to other parts of the world. One major example is when Alexei Mushak, a member of the Ukraine Parliment, posted on his own Facebook for input regarding the legalization of cryptocurrency.

Why Canada Is Still A Better Choice

Cost

Canada is still an untapped market compared to other parts of the world in terms of miner hosting sites and its demand for power. The price of electricity is still relatively low compared to other parts of the world where miner hosting companies have all colluded.

Risk

With regulations in Canada where exchanges having to follow a standard reporting structure, both the seller and buyer of cryptocurrency are protected. This prevents miners using cryptocurrency for illicit activities. This provides higher trust to the market to buy and sell compared to coins mined in other parts of the world.

Cryptocurrencies
canada-climate

Temperature

Canada, especially the northern area, offers temperatures which are a lot lower than many parts of the world. With the heat generated from miner hosting, having a cooler environment would mean less energy needed to cool the GPU/Mining Rigs. This would lead to a lower cost overall as 80% of the cost comes from electrical cost.

Mine Now!

Mining Now is your best option before other miner hosting individuals/companies start flooding Canada. Once Canada starts hitting its capacity in energy consumption, the cost will rise and in turn decrease profitability. Starting now is your best option to maximize profitability. Contact MiningSky for a miner hosting quote today!

MiningSky
Recent Posts

Leave a Comment

Start typing and press Enter to search

Power PlantCrypto Mining, Malware and Processing Power