25/11/19 07:02 UTC-5

The former Soviet Aluminum Plant is now mining Bitcoin

Earlier, the aluminum factory of the Soviet Union in the Siberian city of Bratsk turned into the largest miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
farm – BitRiver. And although it is called the production data processing center, in fact, it is mainly used for the extraction of bitcoins.  


The mining miracle of Siberia

The plant was built in 1960. Now, in its place, a production data processing center has been erected on which transactions for the production of digital gold are mainly “processed”. Its main advantages for production are cheap electricity, due to the still operating hydroelectric power station on its territory, and the cold climate, which allows mining equipment to work more efficiently and at the same time reducing cooling costs.

The operating hydroelectric power station is one of the largest in all of Russia, and the data center allows it to constantly sell excess energy and diversify its client base. Moreover, due to the fact that the Russian state does not recognize cryptocurrency mining, Bitriver, according to Bloomberg, does not directly recognize that it is mining, but “only provides equipment and technical services to its customers, working like any other production data processing center.”

It should be noted that although the miners are frightened by the fall of bitcoin, as cryptocurrency news reports, they still strive to increase their capacities.

Interesting in the section: What will happen when 21 million Bitcoins are mined?

See also: "In the south, the United States creates the largest Bitcoin enterprise in the world"

#Bitcoin #plant #transactions #mining #farm #SovietUnion #Russia

Editor: Alyona Deryabina


02/12/19 06:44 UTC-5

IMF requires Georgia report on cryptocurrency mining

The International Monetary Fund calls Georgia the fourth largest BTC miner in the world. The institution believes that the country's government should include the income from cryptocurrency mining in the report, as trend.az reports.

05/08/19 05:16 UTC-5

The mined cryptocurrency can now be displayed on the Coinbase exchange

​NiceHash cryptocurrency mining service announced the opening of ways to transfer cryptocurrency directly to the Coinbase crypto-exchange. According to the information, now users of cloud mining will be able to exchange the received coins without using a personal wallet.

31/10/19 05:00 UTC-5

247Solar offers solar energy for the mining industry

247Solar began work on the sale of concentrated solar power (CSP) technology for the global mining industry through ROST International Trading Limited, which announced the news on October 30th.