Friday, January 19, 2018

Russia: businessman buys two power plants to mine cryptocurrencies :


Cryptocurrencies are more and more popular in Russia. Some are even willing to invest wealth in mining, like this Russian businessman who decided to invest $ 3 million to buy two power plants!

Two $ 3 million mining farms
According to RT, billionaire Aleksey Kolesnik has just bought two power plants he plans to turn into cryptocurrency mining farms. This information was published in the local newspaper Kommersant, which states that the Russian businessman spent $ 3 million to acquire the two power plants. One located in Perm and the other in Udmurtia (about 1,200 km from Moscow), the plants will soon receive the necessary equipment to become crypto mining farms worthy of the name.

However, it will still be necessary to await the approval of the competent authorities, in order to make the mining centers legal. The good news for the businessman is that Vladimir Putin and his government seem to be rather supportive of the cryptocurrency universe, hence the bill on the subject.

China: the end of the monopoly of cryptocurrency mining?

The majority of the mining farms are in China, where electricity is very cheap. But the mining giants are starting to leave the Asian continent to settle in the rest of the world, especially in Europe and Canada.

The mastodon mining Bitmain already has a center in the Netherlands, and has just opened a new subsidiary in Switzerland where all conditions are met (cold climate and electricity very affordable). These favorable conditions for mining are also found in Russia, hence the choice of our businessman of the day, Aleksey Kolesnik.

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