Where To Put The Largest Crypto Mining Facility Of Russia? In Siberia, Of Course...
Sometimes history turns around in such a way that what was useless and depressing in a country's landscape suddenly becomes a strategic advantage. Take Siberia, for instance: probably one of the coldest regions of the world, underpopulated and often associated with imprisonment of whoever dares to oppose whatever oligarch happens to runs Russia. It wasn't exactly the place to think of for economic growth.
Well, not anymore.
The cold weather of Siberia, combined with its positive energy balance, are making it the ideal spot to implement a crypto mining facility, as reported by the news agency Taas. But not only a crypto mining facility, but the crypto mining facility, if we are to believe the statement of its CEO, Danil Zakomolin:
There will be a mining farm, one of the largest in Russia, and it is planned to create a product on the output that will be more liquid than mining, so the project is strategic. Krasnoyarsk is a surplus region for electricity. The" Divniy industrial park has three busbars to a single energy system.
The interesting part comes at the end of the news, though, where we learn that:
The heat generated in the process of mining is planned to be converted into thermal energy and used for heating residential houses.
They're not making money only by mining, but also by selling the extra heat. Double whammy.
Kinda smart.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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You never know when Trash can turn into Gold....
Yes i heard about it few time , i think it's win win here
It seems the imprisonment is not that profitable anymore for the oligarchs since they plan to invest in crypto mining while producing heat they can sell during the process.
It's just a personal opinion that oligarchs are attracted to build this kind of farms.
After all the wheel of money is spin by them.
Obviously, whoever is building such a big thing in Siberia already paid his due somewhere at the top :) Otherwise I could easily see him sharing the same space with the mining rigs, only outside the farm, in the cold.
the colder it is the better for crypto heat ;)
I just wonder who will get the coins? the people or the government
Very good question :)
If people will have the coins I will start learning Russian and move to Russia.
In the meantime, so many experts are waiting for the Bitcoin bubble to make a big splash. Can't stop laughing right now 😂.
Russia is developing a 120MW #mining farm in Siberia, which will be launched within a month.
That's what I call taking cryptocurrency mining to the extreme. I guess these guys have access to really cheap electricity.
I'm starting to like Russia and China and hate the U.S. I wish I could retire and get out of this country sometimes.
Definitely resteeming this!