A business man buys two power plants for the mining of Bitcoin in Russia

China has dominated the mining industry of the Bitcoin for a few years, but fears of a crackdown by the government indicate that it is now time to go elsewhere to carry out such an operation. A business man has made a bet to open a mining centre in Russia. This destination is perfect for a mining operation because of its energy sources abundant and its season particularly cold.

Check out below the details of this acquisition :

A first for Russia

An investor has acquired two power plants in Russia for the mining of Bitcoin, reported the economic newspaper, and the Russian Kommersant. It is claimed that this is the first that someone buys a power plant for such an undertaking in a country rich in natural resources.

A nuclear power plant is located in the region of Perm, on the western slopes of the Middle Urals, and the other is located in Udmurtia. The two facilities will be used to create a farm mining, the newspaper reported. This acquisition has cost of approximately $ 2.8 million to the Russian businessman Aleksey Kolesnik. In addition, he said that the mining operation will begin only after that the Russian government has approved the law making this legal activity. The draft law that the Russian ministry of Finance is preparing to regulate crypto-currencies and the ICO in Russia is expected to be adopted in march 2018.

Source : Pixabay. The mining of crypto-currency requires specific installations and a major source of energy.

Russia, the Eldorado of minors

Minors chinese seem prepared to move their mining activities in other countries. Russia and China are the ideal destinations for such an operation, because electricity is cheap. In addition, the season in these countries is conducive to the mining of crypto-currencies. Other countries, such as Canada or Iceland, are also prized by investors.

In December, the Russian state Duma has received many miners of digital currencies. They explained to parliamentarians how the crypto-currencies are created and discussed different approaches to mining regulation.

Source : NewsBitcoin