Ukraine to Legalize Crypto Mining as Economic Activity

[sunX3]

"The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities. "

https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

Thought this was pretty interesting.

But is crypto mining even profitable at this point? Idk if it's worth it for btc, maybe some other alcoins?

What do you think?

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[BeruchN]

depends on the electricity costs i guess? i heard it's cheaper there for the most part, so it might work out

[AzureDragon]

I agree with the previous postmaker. Mining is quite profitable at a low cost of electricity. Ukraine is among counries with such a situation in electric power industry. That's why legalization of mining will benefit the citizens of this country.

[rumexx]

This is a piece of good news despite the red days we are having in all altcoins price  movements. A very big boost for cryptocurrency very soon other eastern European countries will follow Ukrainian  footsteps and  do same. The future is for the cryptocurrencies.

[eminemcookie]

Seems like good news but I don't know quite how many people will be mining from the Ukraine anyway, it's unlikely to change things on a global scale all that much.

[MoonIsBlue]

"The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities. "

https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

Thought this was pretty interesting.

But is crypto mining even profitable at this point? Idk if it's worth it for btc, maybe some other alcoins?

What do you think?

Depends on your costs I think Ukraine has very cheap electricity so its probably profitable, altcoins are just a gamble really. Also legalizing mining will probably attract some big players from all over that contribute to your domestic economy and create jobs.

[Zveresk]

depends on the electricity costs i guess? i heard it's cheaper there for the most part, so it might work out

As of today price of electricity in Ukraine - $0.03 KW/H (if you use less than 100 kw/h) and $0.06 KW/H (if you use more than 100kw/h)

[Obi2024]

"The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities. "

https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

Thought this was pretty interesting.

But is crypto mining even profitable at this point? Idk if it's worth it for btc, maybe some other alcoins?

What do you think?

This is a good one for crypto, this is what governments should be thinking of doing instead of looking for ways to kill crypto which will never be possible, we will see how many governments will make moves in support of crypto.

[Riga]

I have long heard that crypto trading and bitcoin mining will not be taxed in this country. Thanks to this, people will be more interested in crypto currency.

[TheCryptoChaser]

This is great news. Thank you so much for sharing this. Ukraine is not a big country and I don't know how many people will participate it, but it might an example for the other countries who wants to join also.

[Crasengover]

These are good news though it's just small step forward the total legalization. I hope our government will make the right decissions and we won't need to worry about the furute of our crypto assets. I'm ready to pay for safe mining, trading and investing.

[PumaPuma_]

I think if Ukraine was interested in legalizing crypto, nothing good will be for citizens! In this country, if something is undertaken, wait for the bad news (for the people of course)!

[debuni]

"The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities. "

https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

Thought this was pretty interesting.

But is crypto mining even profitable at this point? Idk if it's worth it for btc, maybe some other alcoins?

What do you think?

It's interesting.

Mining there could be very profitable for big players because it's cold and you could arrange very cheap energy. Like $0.05 kW/h. Still, the security could be an issue.

[Nagricoin]

At now they just talking about it.
But when it will happen - this industry can rise up in Ukraine.

[DerekGT]

Ukraine taking advantage of crypto. The country is in a difficult position and crypto could help them to gain some money.
Yes, mining is still profitable.

[WUUEX79]

With the presence of this policy I hope the economic growth of the citizens of Ukraine is getting better and can provide a value of protection against bitcoin from a deep downturn as it is happening nowadays.

[senin]

I have long heard that crypto trading and bitcoin mining will not be taxed in this country. Thanks to this, people will be more interested in crypto currency.

The fact of the matter is that we only hear of intentions. but there were no real accepted normative acts on the crypto currency either, nor was it. While this is only all the words, and the words are changeable. Today they say one thing, tomorrow they will say something else. In the Verkhovna Rada of Ukraine there are several bills on the crypto currency, some of which are very good, but they simply lie there and are not considered.

[samcrypto]

depends on the electricity costs i guess? i heard it's cheaper there for the most part, so it might work out

Yeah, a great place for mining. Now its a great opportunity for them to make money easily if I we’re there I will start mining and earn bitcoin. I hope for the successs of people there and hoping that many country will finally accept cryptocurrency.

[SoulEaterRR]

"The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities. "

https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

Thought this was pretty interesting.

But is crypto mining even profitable at this point? Idk if it's worth it for btc, maybe some other alcoins?

What do you think?

This is a new reform of Ukraine, and one could rejoice if it were not for the fact that all this was done before the West and serves only to obtain additional tranches and saw it later. So the government of Ukraine in its style.

[ejawusa]

I think for now that crypto mining is already in profitable phase because many new miners to now, and many countries that legalize bitcoin, if unprofitable may be many countries that don't legalize bitcoin