A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity
A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as $0.03 per kilowatt-hour (kWh). Mining Precious Crypto Assets in the Arctic Circle This week the Russian mining operation Bitcluster was featured in a Bloomberg video-report that highlights the company’s Norilsk bitcoin mine. The city....
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The Arctic mining farm will host ASICs for customers, who will be charged for their electricity consumption.
KnCMiner has unveiled a new cloud-mining service, offering six-month contracts out of its Arctic bitcoin mine. KnC Cloud, launched on 2nd September, leverages the company's existing data center space in northern Sweden. The so-called Clear Sky mine boasts more than 7 petahashes per second in estimated mining power. KnCMiner said the program will benefit from the cheap cooling and local renewable energy sources afforded by the Arctic Circle. These geographical advantages have led many companies in the bitcoin mining space to look to the Arctic, potentially establishing the region as a key....
Having accessing to affordable electricity is a critical factor for any bitcoin mining operation. John McAfee and Bitcoin seem to be entwined at this point in history. Ever since launching his massive bitcoin mining operation through MGT Capital Investments Inc, things have been going well. So much even that his operation is producing bitcoins ahead of schedule. A positive note that shows mining cryptocurrency remains a profitable business assuming one has the necessary knowledge. As is the case with any Bitcoin mining operation, specific targets have to be reached. Investing in hardware,....
Global Bitcoin mining equipment company KnC Miner announced in a press release that they will grow their business with a 20 MW datacenter in Boden, in The Node Pole region near the Arctic Circle in Sweden. The investment - called Boden 2 - bring their site to a total of 30 MW and 15 000 square meters. The new datacenter will be operational by the end of 2014 and will be used for cloud services and for hosting of specialized Bitcoin mining hardware to a global client-base. KnC Miner co-founder Sam Cole said: "We have the planet's most efficient bitcoin cloud mining operation. Our Clear Sky....
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it.
Suppliers Move Against Mining With Cheap Electricity
The Russian association of energy suppliers and power utilities has prepared proposals to curb amateur crypto mining with subsidized household electricity, which has become a popular income source for many Russians. A letter listing its recommendations has been....