BitRiver, it is just launched cryptocurrencies mine in Siberia. It is currently the largest Russian plant that mines cryptocurrency bitcoin (BTC). According to Bloomberg, the mining billionaire Oleg Deripaska already attracts really big customers.
Deripaska has just built a brand new facility and connected the BTC mines directly to the data center. Everything is located in the largest aluminium factory from the Soviet times. The former industrial city of Brack, where the mine has now been installed, is becoming one of the largest post-Soviet data collection centres in this part of the world.
Bitcoin in Russia
There is no denying that Russia is now really a very important point on the map of crypto-currency companies. However, we are mainly talking about companies that deal with blockchain and also with programming, and not in any case with mining. But now, thanks to Deripasca, this state of affairs can be changed as much as possible.
His mining farm was built in close cooperation with the local energy company En and uses local renewable energy sources (mainly hydropower). Thus, this investment fits into a very visible trend on the digging market itself. To meet all the crypto critics, , who say that digging them is strictly non-ecological, investors are increasingly using electricity, which comes from renewable energy sources. This is why they not only harm the environment, but also bring out digital assets in a much cheaper way.
BitRiver itself is in no way a problem for digging bitcoins. Instead, however, the company employs highly specialised staff and provides them with reliable access to cheap electricity for mining. En naweet supplies up to 100 megawatts per year directly to the aluminium factory in Brack. This makes it possible to extract cryptocurrency bitcoin on an industrial scale.
BTC and mining
In fact, the entire bitcoin network currently consumes more than 73 terawatts per year. This makes BitRiver still a small mining farm. The Brack hydroelectric power plant produces a total of more than 22.5 TW/h of electricity per year, which is used for completely different industrial purposes.
As far as the exact hash power of the farm is concerned, this is unknown, but the media have shown that BitRiver is also being used by customers from China, Japan and the USA.
The Russian Government issued warnings some time ago just before bitcoin digging. Especially when using home electricity networks. However, Deripasce managed to start a completely new business on a truly global scale. Indeed, for Russia, bitcoin can mean a really great opportunity in the very context of the fight against all kinds of sanctions on the part of the United States. As you can see, it promises to be very interesting. We will be keeping up to date with information on this subject. We are looking forward to developments in the situation.