Ukrainians received about $400 million in profit from bitcoin investments, ranking 10th highest in the world,

according to the Digital Transformation Ministry, citing a study by Chainanalysis. The top three were: US – $4.1 billion; China – $1.1 billion; and Japan – $900 million. Six months ago, the Rada approved on first reading a bill, ‘On Virtual Assets,’ which would provide legislative regulation of a market for crypto-assets. Oleksandr Bornyakov, deputy minister of Digital Transformation, said: “Citizens and crypto companies will be able to officially work and receive income from operations with new assets. The incomes

Bitcoin mining consumes as much electricity as Ukraine.

Bitcoin consumes almost 150 TeraWatt hours, according to the Bitcoin Electricity Consumption Index run Cambridge University’s Centre for Alternative Finance. By contrast, Ukraine generated 150 TeraWatt hours last year. Bitcoin dropped in value by 10% last week, after Tesla CEO Elon Musk announced that his car manufacturer will stop vehicle purchases using Bitcoin because of environmental concerns.