The financial conglomerate SBI Holdings has decided to liquidate mining activities in the Russian Federation. This is reported Bloomberg.
The Japanese company was mining outside of Japan through its subsidiary SBI Crypto. The exact dates of the closure of the structure in Siberia are not reported. To do this, SBI Holdings must sell the part of the equipment remaining on Russian territory.
According to Bloomberg, the company stopped mining cryptocurrencies in Russia after the start of the war in Ukraine. Another reason for the curtailment of business was the general uncertainty regarding mining in the jurisdiction due to sanctions.
Now SBI Crypto takes 12th place among mining pools. Its hashrate is 1.24 EH/s.
Recall that prior to this, the US Treasury imposed sanctions against the BitRiver group of companiesinvolved in cryptocurrency mining in the Russian Federation. Its founder Igor Runets said in a comment to Cryplogger that he regards this decision as unfair competition.