Crypto Mining Could Bring Russia $1B in Taxes, Report Suggests – Bitcoin News
- Also read: Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies
70 Billion Rubles
- If Russia uses the excess electricity to mint digital coins, the state would receive 70 billion rubles (over $1 billion) just from VAT, the authors claim.
- With electricity in Russia priced at 2 rubles ($0.03) per kilowatt-hour, the VAT revenues from these machines would be around 292 million rubles (over $4.4 million) a month.
- The post Crypto Mining Could Bring Russia $1B in Taxes, Report Suggests appeared first on Bitcoin News.
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