With cheap electricity bills and the location of many large mining operations in nearby power stations, China has long been a stronghold of cryptocurrency mining.
But this is Russia. appears to be starting to shift towards Russia as investors buy power plants and enable them to host cryptocurrency mining operations.
RT According to RT, Russian business man Aleksey Kolesnik confirmed in a statement to local newspaper Kommersant that he has purchased two power stations to mine cryptocurrencies in the future.
These two are located in the Perm and Udmurtia regions, approximately 1,200 km east of
Moscow The plant will be renovated and transformed into a data center and mining operations center.
Arm esnik has invested approximately $3 million for these two power plants, but there is still no definite news about whether or when it will start mining cryptocurrencies.
This project Its reliability and future is entirely in the hands of the Russian government, which has made some developments in cryptocurrencies in the country before. announced that they have officially started working on the draft law.
This announcement will include President Vladimir Putin‘s BRICS and EEU members. came up shortly after presenting the idea of a multinational cryptocurrency.
Russia regulates and formalizes trading in cryptocurrencies by June 2018 is expected. Meanwhile, mining and trading will still remain taxable.
Keep Waiting for More Pioneers
Russia over the past year the regulation and formalization of cryptocurrencies it took almost no time to buy it.
While miners and traders are happily following their own paths, the government has done its best over the past 12 months to keep up, especially Bitcoin > after the epic rise in value.
We can’t say that the past month has been very good for cryptocurrencies, especially considering the erratic fluctuations on a daily basis.. Despite this, the influx of users towards cryptocurrency mining continued non-stop.
It wouldn’t be surprising if Russia will host other major mining operations in the future, especially given the growing demand for cryptocurrencies in the country.
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