Ukraine is among the top countries in terms of cryptocurrency adoption, despite the ongoing conflict with Russia. A recent study found that Ukrainian miners consumed an average of 616 MW per hour in April and 487 MW per hour in May, surpassing the energy consumption of large industrial enterprises. However, compared to global indicators, this is a relatively small amount. The hash rate and electricity consumption decrease in warmer months due to increased cooling costs. The average cost of electricity required to mine one Bitcoin is $46,291. The study also highlights the negative impact of miners' electricity consumption on the country's infrastructure, particularly during peak hours. However, if power generation and conditions for legal mining improve, mining could become a boon for post-war Ukraine. While mining is not prohibited in Ukraine, crypto regulation is still being established. The conflict with Russia has further heightened the popularity of cryptocurrencies in Ukraine. The country has prospects for mining development due to Ukrainians' passion for cryptocurrencies and the low price of electricity. Challenges include power outages and imperfect legislation, although initiatives are underway to regulate the cryptocurrency market in the future.



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