Mining farm will connect to the facilities of Rusal

Bitcoin mining will begin at the Rusal plant, which is closed due to sanctions. This was stated by the Internet OmbudsmanDmitry 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. After the imposition of sanctions, it lost the ability to supply aluminum to the United States.

The plant is supplied with cheap electricity, which will make it possible to launch a digital hub and sell 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, actually renting it, to participants of 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 absolutely technical low-level traffic that does not form meanings, but works out a specific mathematical task. We will produce the equipment ourselves. This location was chosen, firstly, because of the excess electricity, which is not recycled in sufficient quantities. Secondly, due to the colder climate, which reduces the cost of removing heat from equipment. The influx of foreign players will only increase. We want to arrange engineering infrastructure that each participant in their jurisdiction will receive for rent in accordance with the laws of the country where they are located.”

 

Marinichev’s company cooperates with a crypto exchangeCryptonics, which is registered in the UK. Together they plan to assemble a pool of miners that would control 20% of the world's Bitcoin production. Until recently, Marinichev’s structures managed to collect only 1.5%.
Get a fifth of the world's Bitcoin productionIt’s unlikely to succeed, says Alexander Butmanov, managing partner of the fintech company DTI Algorithmic. But, in his opinion, Russia can take a prominent place in the global computing power market due to cheap electricity

 

Alexander Butmanov, Chairman of the Expert Council on Blockchain Technology at the fintech company DTI Algorithmic:

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

 

The closed Rusal plant in Karelia is interestingnot only Marinichev’s structures. As RBC found out, the mining equipment was also supplied there by the company Cryptouniverse due to the stable climate, seismic resistance and the interest of local authorities.

 

Original - Kommersant.

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