The Russia-Ukraine war has so many effects on inflation in many countries. Will it also affect the mining of Bitcoin, especially cloud mining?
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1 Answer
The network hash rate has continued on an upward trend throughout 2022 and doesn't seem to have been impacted at all by the Russia-Ukraine war. It is plausible that mining farms in the region could have been forced offline due to lack of electricity or lack of connectivity but without drilling into the numbers I can't tell whether this has happened or not. I suspect the vast majority of the network hash rate isn't located in the affected region but again I don't have access to any particular data to back that up.
answered Dec 17, 2022 at 12:12
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thank you for answering, so there is no effect on cloud mining companies such as moden, nicehash, bitfeeder and etc.?– vashCommented Dec 17, 2022 at 12:16
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@vash: It depends where the servers are located and if those servers maintain uptime. I don't have the data on either, but at least at a network level it doesn't seem to have had much/any impact. Commented Dec 17, 2022 at 12:33
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