Russia has found the best location for the business of mining of crypto-currencies

The Russian Association of technology, Blockchain and crypto-currencies (RACIB) conducted a study to determine the best location for the mining of crypto-currencies in the country. The best area found is an important centre of transportation and distribution as well as a transit centre with the cheap electricity. Currently, there is very little mining of crypto-currencies in this region.

News.Bitcoin

Krasnoyarsk, the perfect place for the mining of crypto-currencies

The RACIB has conducted a study on the attractiveness of the Russian regions for the mining of crypto-currencies. This association was formed to unite the actors of the technology Blockchain as well the owners, the miners, and investors in crypto-currencies and the ICO. Its formation was announced in August by the adviser to the president Vladimir Putin on the issues related to the Internet, Herman Klimenko. The president of the association Yuri Pripachkin, has said : “The association has compared the regions as a function of parameters such as the cost of electricity, the availability of free reserves, accessibility, logistics and the development of the telecommunication infrastructure. “According to the findings of the study, the Krasnoyarsk region obtains the best score overall. Krasnoyarsk is the largest territory of the Russian Federation. Its surface extends over 2 339 700 km2, which is approximately 903 400 square miles. Its administrative center is the city of Krasnoyarsk, the third largest city in Siberia with a population of approximately 1 million inhabitants.

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A region with high potential, but neglected

“The cost of electricity in this region is 2.41 rubles per kW/h.” We note here that even if this region gets the best overall outcome, it doesn’t have electricity, the least expensive. Indeed, the regions of Khakassia (2,01 roubles) and Irkutsk (2,14 rubles) are doing better. Where Krasnoyarsk makes the difference, it is at the level of logistics capabilities and telecommunications. In addition, the water of the river Yenisei can be used as a refrigerant, to the centres of mining. The region is also an important centre of transit to the federal District siberian. But despite these favourable conditions, almost no one agrees in the Krasnoyarsk region for the activities of mining of crypto-currencies.

Source : News.Bitcoin