Japanese financial firm SBI Holdings has decided to restrict its cryptocurrency mining operations in Russia. He writes about Bloomberg.

The company is engaged in mining outside of Japan through the “daughter” of SBI Crypto. His representative did not specify exactly when the structure will leave Siberia. To do this, SBI Holdings must sell the rest of the equipment on the territory of Russia.

According to the agency’s interlocutor, the company stopped mining cryptocurrencies in the Russian Federation after the outbreak of war in Ukraine. Another reason for restricting jobs was the general uncertainty about mining in the jurisdiction due to sanctions.

According to BTC.com, SBI Crypto ranks 12th among mining pools at the time of writing. Hash rate is 1.24 EH/s.

Previously, the U.S. Treasury had imposed sanctions against the BitRiver group of companies engaged in cryptocurrency mining in the Russian Federation. Its founder, Igor Runets, said in a comment to ForkLog that he sees this decision as unfair competition.

Elliptic suggested that the cryptocurrency industry has received a “strong signal” from the United States about the need to implement solutions that will prevent the Russian Federation from evading sanctions through mining.

Recall that in April Compass Mining decided to sell equipment located in Siberia after the restrictions on BitRiver.

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