Russia Ready for Migrant Bitcoin Miners Influx

[alyssa85]

https://news.bitcoin.com/russia-ready-for-migrant-bitcoin-miners-influx/

Dozens of applications to mine bitcoin in Russia have been received already from companies and individuals from China and the EU, as news.Bitcoin.com reported. The Russian Cryptocurrency and Blockchain Association has invited colleagues from China and Slovakia to help increase Russia’s appeal to relocating miners. Spanning 11 time zones, filthy rich with natural resources and cheap energy, the largest country has a lot to offer. It has been estimated that the mining industry can pour trillions of rubles into federal and regional budgets. And Russian experts say authorities must think about creating the right conditions to accommodate the market.

The main problem with setting up a mining operation in Russia is that teh govt blows hot and cold on cryptocurrency practically every week.

Miners would do better going to Iceland, or the South American countries, or even to Africa.

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[stompix]

It's the usual propaganda where they try to paint Russia as the most attractive place to do almost anything....
There is cheap energy in Europe also, like Iceland and Norway and there are already companies setting up mining farms there.

As you said, nobody is going to risk millions in a country which has one stance today and another one tomorrow.
Getting cheap energy is one thing but you might also think about stability and security of your investment.
Why would an European choose Russia over Iceland or an somebody in North America Russia over Canada?