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Thursday, 15 February 2018

Siberia Prepares Welcome For Cryptocurrency Miners

Five Siberian Power plants are attracting cryptocurrency miners to the area as cryptominers will soon be able to get surplus electricity for their mining operations.




Summary:

  • Russian Energy Company En+, is already in talks with investors to build crypto mining farms near them. The Compoany owns the plants.
  • The capacities of the power plants are 3,840 MW and 525 MW for the hydro and coal fired plants near Ust-Ilimsk; 4500 hydropower plant near Bratsk.
  • Near Irkutsk, a 662MW,and 655MW hydro and coal fired plants are available, Verdomosti. a news outlet reported.
  • En+ has said another reason why miners should come is the cold climate in the region and cheap electricity.
  • The CEO also expressed optimism that miners from China, where the currency has been banned  will be attracted to the region for mining.
  • In Russia, cryptocurrency mining is not yet regulated, but regulators are already in the drawing board drafting regulations.
  • Cryptocurrency mining is not frowning against cryptocurrency mining, only it's sale within it's borders.

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