Categories: BitcoinMiningNews

Canada and Russia most likely to venture into crypto mining after Bitcoin mining ban in China says Mati Greenspan

Recently Blockmanity reported about the potential Chinese Bitcoin [BTC] mining ban that has left many wondering about which countries could be China’s successors.

In an interview with AmbCrypto eToro’s Senior Market Analyst, Mati Greenspan commented on the potential successors of the Bitcoin mining industry, he stressed on “cheap renewable energy” and “friendly towards crypto” as two essential factors for any country hoping to step into the crypto mining world.

Greenspan vouched for Canada and Russia as the two most suitable countries for crypto mining. “The two biggest ones are Canada and Russia, both of them have seen significant increases in their mining activity lately,” he said. It must be noted that Japan and South Korea, with their crypto friendly legislation, were not Greenspan’s choice.

Greenspan further elaborated on the reason for choosing Canada by mentioning an article from the Wall Street Journal, titled “Bitcoin in the Wilderness”. According to the article, Bitcoin mining could “monetize energy through the internet” by using wasted natural gas for the production of Bitcoin. Wasted “natural gas” has been used for the production of cryptocurrency by Black Pearl Resources, a Canadian mining field.

Mati Greenspan is all for Russia. He said, “Russia is extremely pro-crypto”. He believes that crypto legislation would make its way into Russia by the end of 2019.

According to Kremlin.ru, the official website of the President of the Russian Federation Vladimir Putin, a document has been issued which instructed the Federal Assembly, the national legislature of Russia to issue cryptocurrency regulations by July 1, 2019.

At the beginning of 2018, Russia’s President, Vladimir Putin said that the Russian government should introduce legislation that would allow people to trade not only Bitcoin but other virtual currencies as well.

“My feeling is that Russia is only increasing their efforts towards being crypto-friendly, rather than decreasing it,” said Greenspan in favor of Russia.

Other than China and Russia, smaller countries like Belarus and Mongolia are also planning to become crypto mining hubs.

Read more:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shreya Garg

Share
Published by
Shreya Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago