Private mining in Russia is losing popularity. The demand for mining equipment does not save even a twofold drop in prices for it. Experts point to a drop in the bitcoin rate, an increase in the complexity of mining of crypto-currencies and the associated decrease in the profitability of mining as the main reasons for such dynamics. Its contribution is also made by bills aimed at regulating the digital space, which introduce additional requirements for such activities, which frightens off private miners.
Yula's free ads service analyzed data for the second quarter of 2018 and found that the demand for professional equipment for mining significantly decreased compared to the previous period. So, in April-June individuals purchased such equipment by a third less than in January-March. The findings are based on the calculation of the number of ads closed in connection with the purchase. Absolute numbers are not disclosed by the service, it is known that we are talking about thousands of ads.
Accordingly, demand fell and prices. The average cost of ready-made mining farms, specialized video cards, motherboards and other devices for the production of crypto-currency fell by 40%. So, the number of ASM AntMiner (popular miner model) sold in the second quarter decreased by half, the average price decreased from 126 thousand to 65 thousand rubles. This dynamics is confirmed by the statistics of search queries. So, videocards searched for one and a half times less than in the first quarter, the search for farms search fell by half, and the ASIC AntMiner miners looked for 1.7 times less. And one of the most popular requests of the past periods - by the word "bitkoyn" - fell by 2.2 times.
Significantly reduced and the number of proposals: the number of announcements created in the second quarter on the sale of mining equipment was 2.3 times less than the same indicator for the first quarter. As before, among the cities in terms of the number of such ads are leading Moscow (31% of ads) and St. Petersburg (11%). In other large cities - Novosibirsk, Yekaterinburg and Krasnodar - 3-4% of announcements were submitted.
According to Ilya Maksimenko, the founder of the financial platform of PlasmaBank, interest in private leasing began to decline in late 2017. The change in demand and prices for mining equipment is primarily due to the price and complexity of mining the main crypto currency - bitcoin, co-founder of Wirex crypto bank Dmitry Lazarichev agrees. "Over the past six months, the complexity of mining has grown significantly and requires more and more computing power, and the cost of bitcoat, on the contrary, falls and shows one of the lowest rates in the last year," he notes. If in mid-December 2017 the cost of bitkoyne reached $ 20 thousand, then this year it went sharply downwards and by the end of June 2018 reached $ 6 thousand. Thus, according to him, investments in mining bitkoy become simply inefficient, even with a decrease in the cost of equipment.
The payback period of medium-sized private farms has grown from one year to two or two and a half years. Private miners began mass sale of their equipment to industrialists, trying to save at least some investment, "- confirms Mr. Maksimenko.
In addition, the development of the legislative base in the field of regulation of the digital space played a role, experts say. Now under consideration in the State Duma there is a bill, including determining the status of miners. For individuals, the adoption of such a law means "bureaucratic and financial costs - registration of a legal entity, tax burden", Mr. Lazarichev points out. In addition, according to him, the cost of electricity is not obvious when using it for the crypto currency - it may even be higher than for legal entities. "The former boom for private mining is no longer worth waiting for: the market is oversaturated, and forecasts of payback will frighten off private traders," Mr. Maximenko summarizes. At the same time, according to the McAfee Labs analytical portal, in the second quarter of 2018, more than 2.9 million malicious programs for hidden mining were discovered. This is 629% higher than in the previous quarter. In addition, according to Mr. Maksimenka, development of industrial mining is observed, and some new block projects are counting on further development of mobile mining.