Two regions of Russia will develop large-scale mining crypto

Two regions of Russia will develop large-scale mining crypto

The governors of two Russian regions have indicated they are ready to create facilities for large cripto-farms. Two of the western regions of the federation – Kaliningrad and Leningrad – are eager to get involved in the “bitcoin mining in Russia”. Local authorities have said they intend to remove miners from garages and drive industrial mines. At this time, they are putting pressure on Moscow officials to create regulations.

A huge mining farm

Many are interested in cryptocurrency and bitcoin mining in Russia in the city of Kaliningrad Oblast. Governor Anton Alihanov said this at an investment forum in Sochi. In the future, the region could become a huge mining farm.

“Many people have shown their interest in the bitcoin mining in Russia. Doing everything is complicated and you do not want to fire the house. That’s why we have a “mining hotel” where staff can install cooling equipment so they do not fire, “the official added.

If you are a miner, you have come to the right place. We can become a huge mining farm.

Alihanov also said that the Kaliningrad Oblast has a very well-developed sector in the greenhouse area producing tons of strawberries. These greenhouses need heat in the cold months, and mining machines produce a lot of heat. Mining farms may even be built close to straw hatches to give them warmth.

Still cautious when it comes to buying cryptomonas, the governor admitted that he had “some rich experiences” with share deals in the past. “Shares, bonds, the future market – all are risky, I have no funds I want to risk at any time. For now I keep the distance, “Alihanov said. But he added that crypto markets have become more stable, so he might change his mind.

Miners will use NPPs canceled

Other local officials have also announced plans to create mining businesses in the area. Authorities in Leningrad Oblast, near St. Petersburg, are planning to make a technology park for miners as cryptocurrency. It will be built at the Sosnovy Bor nuclear power plant, according to Governor Alexandr Drozdenko. Electro Atomic Station in Leningrad (LAES or LNPP) will be canceled in 2020-2021.

A new nuclear center will clutter LAES RBMK units, which now produce half of the electricity in the area. LAES-2 will be equipped with safer, “post-Fukushima” reactors. LAES is the largest electricity-generating facility in northeastern Russia.

The economic department of the Leningrad and Rosatom administration has already agreed to the Russian mining project at LAES, according to Drozdeno. “What we need for mining is cheap electric energy, cooling systems and a reliable transmission network. We have all of this at Leningrad NPP, “he said. “The Russians are lying in the garage. We want to do this on an industrial scale. ”

According to the governor, there are two main issues for which the project is postponed. “First of all we have to wait until the old equipment is removed, after scrapping. Secondly, we need a legislative framework that allows us to mince, to produce bitcoins, “Drozdenko explained. He added that there are “serious negotiations” on regulations between his administration and the federal government.

With cheap energy, developed electricity infrastructure and a cold climate, Russia has everything it takes to place cryptocurrency miners and to receive foreign investors. Authorities in the region with great potential for sector development are anxious and expect new regulations from Moscow as soon as possible.

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