Monday, July 26, 2021

Russia has imported its largest Bitcoin miner batch

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Russia has reportedly imported hundreds of cryptocurrency mining units amid an enormous surge within the crypto market.

A senior government at BitRiver, the largest crypto mining colocation services provider in Russia, claimed {that a} native shopper obtained over 20,000 crypto mining units, Russian information company Kommersant reports Feb. 10.

BitRiver founder and CEO Igor Runets mentioned that the entire mining energy of the imported {hardware} quantities to 70 MWh, which is reportedly estimated to make up the most important single batch of crypto mining {hardware} in Russia. Runets mentioned that the {hardware} was delivered in December 2020 and was instantly arrange for Bitcoin (BTC) mining in Bratsk — a metropolis in Russia that has one of many nation’s largest hydropower stations.

Runets famous that the mining rigs have been imported from Asia. A spokesperson from BitRiver advised Cointelegraph that the corporate can’t disclose both the identify of the Russian shopper or the precise nation that exported the {hardware}. The consultant added that the mining information middle was established at one in every of BitRiver’s places.

BitRiver didn’t disclose the precise kind of crypto miners imported. In response to Kommersant, the imported batch was priced between $40 million and $60 million.

Regardless of Russia adopting its crypto law “On Digital Monetary Property” in January 2021, there’s a sure degree of uncertainty about crypto mining within the nation because the legislation doesn’t present a transparent regulatory framework for the business. In September 2020, native authorities even proposed to prohibit Russian crypto miners from receiving payment for mining crypto.