Massive 70 MW Bitcoin Mining Rig Shipped to Russia
Big moves are happening within the bitcoin mining industry in Russia. An unnamed miner sent what seems to be the largest single batch of mining equipment to the country. Delivery Took Place at the End of 2020 According to Kommersant, the unknown miner shipped almost 20,000 devices on 14 trucks, which have a total power capacity of 70 megawatts. The media outlet’s estimations show that the hardware shipped from Asia is worth approx. between $40 million and $60 million. The Bitriver-powered data center is located in Irkutsk, the largest city of Irkutsk, in the Siberian Federal....
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China’s crackdown on its crypto mining sector, launched earlier this year, caused a massive migration of mining enterprises to friendlier jurisdictions. Miners have been moving enormous amount of coin minting hardware to new bases around the world, with Russia reportedly taking the largest share among several attractive destinations, including the U.S. Russia, Kazakhstan, US Accept Most Chinese Mining Rigs The influx of Chinese miners in several countries which either provide certain regulatory clarity or offer cheap energy has been accompanied by a large transfer of mining....
Russia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining. Mining and Some Stablecoins Can Be Legalized in Russia, Duma Deputy Insists The free circulation of cryptocurrencies must not be allowed as they carry risks for unqualified investors, but Russia may permit the use of gold-backed stablecoins and the mining of cryptocurrencies under government control,....
KNC Titans Cloud Mining. KnCMiner posted an announcement on September 11th stating that KnC Titans would ship the week of September 14th, but KnC Titans still have yet to start shipping. Members of the KnC community are outraged at them for delaying shipments further in a market with an ever growing mining difficulty. Well, look on the bright side. At least KnC isn't planning on building a massive Scrypt farm like they did with the 3TH/s Jupiters before they shipped the used hardware to customers. KNC Titans Failed to Ship. KnC Titan customers have yet to receive a single KnC Titan. Kurt,....
The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally.
Central Bank of Russia to Accept Legalization of Cryptocurrency Mining
The monetary authority in Moscow is now ready to back the legalization of crypto mining under the condition that Russian miners are obliged to sell the coins they obtain in....
An unknown client in Russia has stacked 20,000 Bitcoin miners at one of BitRiver’s locations in Siberia. Russia has reportedly imported thousands of cryptocurrency mining devices amid a massive surge in the crypto market.A senior executive at BitRiver, the largest crypto mining colocation services provider in Russia, claimed that a local client received over 20,000 crypto mining devices, Russian news agency Kommersant reports Feb. 10.BitRiver founder and CEO Igor Runets said that the total mining power of the imported hardware amounts to 70 MWh, which is reportedly estimated to make up the....