February 5, 2023

Mining farm will connect to the facilities of Rusal

At the Rusala plant, which was closed due to sanctions, they will mine bitcoins. This was stated by the Internet Ombudsman Dmitry Marinichev. With his participation, the Russian Mining Company was created, which is going to place mining equipment at the plant. The Rusal enterprise was mothballed last year. Following the imposition of sanctions, it lost the ability to ship aluminum to the United States.

Cheap electricity was supplied to the plant, which will allow launching a digital hub and selling computing power abroad. Dmitry Marinichev spoke about this in an interview with Kommersant FM.

Dmitry Marinichev, Internet Ombudsman:

“We will form an infrastructure solution,which will allow the use of computing power, in fact, to rent it to participants in the entire market, primarily not located in Russia. The main task is the formation of infrastructure and its preparation for use by various services. This is an absolutely technical low-level traffic that does not form meanings, but fulfills a certain mathematical problem. We will produce equipment on our own. This place was chosen, firstly, due to excess electricity, which is not disposed of in sufficient quantities. Secondly, due to the colder climate, which reduces the cost of heat removal from the equipment. The influx of foreign players will only increase. We want to arrange the engineering infrastructure that each participant in his jurisdiction will receive for rent in accordance with the laws of the country where he is located. ”

Marinichev company cooperates with crypto-exchangeCryptonicks, which is registered in the UK. Together, they plan to assemble a pool of miners that would control 20% of the world's bitcoin mining. Until recently, Marinichev’s structures managed to collect only 1.5%.
It is unlikely to get a fifth of the world bitcoin miningwhether it succeeds, says Alexander Butmanov, managing partner of the fintech company DTI Algorithmic. But, in his opinion, Russia may occupy a prominent place in the global computing power market due to cheap electricity

Alexander Butmanov, chairman of the expert council on blockchain technology of the fintech company DTI Algorithmic:

“20% of world mining is an ambitious goal. We have private enterprises that do not violate the law and transfer their capacities to a number of Russian and foreign organizations, to private individuals, that is, this is not exclusive, but normal practice. Enterprises were built for metallurgy, industry near hydroelectric power plants, so there is a lot of cheap electricity. We even compete with Northern China. ”

The closed Rusal plant in Karelia is not interestingonly to Marinichev’s structures. As RBC found out, mining equipment was also supplied by Cryptouniverse due to its stable climate, seismic stability and interest of local authorities.

Original - Kommersant.

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