Russia is one of the most favourable countries for crypto mining thanks to its cheap electricity and favourable climate. In Europe, the average cost of electricity ranged between $0.07 and $0.2 per kWh in 2017. However, in Russia it is only $0.05 per kWh on average, and in the Irkutsk region it is as low as $0.015 per kWh.
Electricity is the major operating cost for crypto mining, so access to cheap electricity has resulted in massive mining farms springing up across Russia. Neighbouring China is a hotbed for Bitcoin ASIC mining – thanks to local Chinese ASIC manufacturers such as Bitmain – but in Russia, the market includes large-scale GPU mining operations too.
Cudo is looking to capitalise on the professional miners in Russia who are using GPU mining rigs. Its CudoOS stand-alone operating system means it can run its software across multiple rigs from one single web-based console.
Pete Hill, Partnerships Director at Cudo Miner, commented: “Our goal is to make mining as straightforward as possible – but, just because you are technically capable of mining from the command line, it doesn’t mean you should.”
“Russian miners with multiple rigs can now use CudoOS to monitor the health of their hardware, deploy new template configurations, and view estimated earnings remotely from the web console. Miners can also monitor their mining hash and earnings per coin from anywhere, either aggregated or graphed per device.”
Being a multi-miner, Cudo Miner can set the software to automatically mine the most profitable coin, which could come in handy in periods of high price volatility – such as this week.