Regional Government Announces Opening of Large Crypto Mining Farm in Russia
2018年8月23日 - 10:01PM
ADVFN Crypto NewsWire
The largest cryptocurrency mining farm in Russia has opened
in the Leningrad Region, according to the regional government. The
facility is equipped with more than 3,000 pieces of mining
equipment and covers an area of approximately 4,000 square
meters.
”Largest” Mining Farm in Russia
The press service of the Governor and the Government of the
Leningrad Region announced on Monday that “the largest data
processing center in Russia, designed to extract digital currency –
bitcoin” has opened in the Leningrad Region.
According to the announcement, the facility has “an energy capacity
of 20 mW, which is equipped with more than 3,000 machines for
mining, [and] is built on the territory of the industrial park
‘Levoberezhny’ in Kirishi. The total investment in the creation of
the center amounted to 500 million rubles [~US$7.3 million].”
Deputy Governor of the Leningrad Region, Dmitry Yalov, said at
the opening of the crypto mining center:
Favorable conditions have been created on the territory of the
Leningrad Region for the creation of mining farms. There is enough
capacity in the region, so electricity prices are relatively low.
This is among the undeniable advantages of the region, along with
the availability of engineering sites and qualified personnel.
The farm is built by a company called Cryptouniverse on the site
of the former Soviet fertilizer-producing laboratory, which stood
unoccupied for 20 years, according to the Japan Times. The company
explained that “The first buildings of the center put into
operation occupy an area of 4,000 square meters and contain more
than 3,000 pieces of equipment for the production of bitcoins and
litecoins. Any private investors can place their equipment on the
territory of the mining center or rent its computing power.”
Alexei Korolyov, the center’s co-founder, was quoted by the news
outlet saying that “this is the largest and so far the only farm in
Russia that offers the ‘full cycle’ — not just producing
cryptocurrency but also offering services to those who do the
mining.”
Another Area for Mining Farms in
Leningrad Region
In September last year, the Governor of the Leningrad Region
invited crypto miners to the
Sosnovy Bor area near St. Petersburg to create industrial-scale
mining farms at the old Leningrad nuclear power plant.
According to Pravda.ru publication, “plans to create a mining
farm based on the former nuclear power plant in Sosnovy Bor are
still in place.”
The Governor said during the St. Petersburg International
Economic Forum in May that the authorities had meetings with a
group of Russian investors to discuss plans for “the production of
equipment for mining farms and the production of cryptocurrency.”
Without disclosing further details, he indicated that “the real
timing of the launch of the mining farm” is 2021.
Russia Working on Crypto
Regulations
In Monday’s announcement, the Governor of the Leningrad Region
also discussed the regulatory framework for cryptocurrencies in
Russia. “At the federal level, legislation is being drafted that
will allow the regulation of the use of cryptocurrencies,” he
described, emphasizing that “the State Duma of the Russian
Federation is considering bills on digital financial assets.”
Kommersant reported that the Pushkin Leningrad State University,
the Russian Association of Cryptocurrency and Blockchain, and the
Leningrad Chamber of Commerce and Industry “are preparing a concept
that regulates the use of digital technologies” in the region. It
includes the mechanism of implementing blockchain technology in
businesses, crowdfunding projects, [and] provisions of tax
incentives for “digital entrepreneurs,” the publication conveyed.
The document will be submitted to the regional Legislative Assembly
and is expected to be submitted to the federal regulators in the
fall.
By Kevin Helms
Ripple (COIN:XRPEUR)
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